The Washington office of the Korea Trade-Investment Promotion Agency(KOTRA) has surmised that if the U.S. launches a renegotiation of the South Korea-U.S. free trade agreement(KORUS FTA), it is likely to be an update rather than a complete overhaul.
 
In a report released on Monday, the KOTRA office said the KORUS FTA is expected to proceed in a similar way to the North American Free Trade Agreement(NAFTA). 
 
The office said that a renegotiation is likely to address insufficient progress in some sectors and add new clauses on digital trade and banning currency manipulation.
 
Meanwhile, the U.S.-based Peterson Institute for International Economics has projected that the U.S. is likely to demand a renegotiation concerning automobiles, finance and the agricultural sector.