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S. Korea-U.S. to Begin Talks on Possible FTA Amendment Next Week

Written: 2017-08-18 09:51:59Updated: 2017-08-18 10:54:44

S. Korea-U.S. to Begin Talks on Possible FTA Amendment Next Week

Anchor: South Korea and the U.S. will begin talks to discuss the possibility of revising the Korea-U.S. free trade agreement. Upon Washington’s request, the special session will be held in Seoul on Tuesday.
Our Park Jong-hong has the details.
 
Report: The meeting heralds the start of full-blown discussions on whether to possibly revise the free trade agreement(FTA) between the two countries.
 
Both the Ministry of Trade, Industry and Energy and the U.S. Trade Representative(USTR) on Friday announced that the meeting will be held in Seoul on Tuesday.
 
Korean Trade Minister Kim Hyun-chong and Ambassador Robert Lighthizer will open the meeting via a video conference that will be followed by additional senior-level discussions between the two sides in Seoul.
 
The special session is being held upon Washington's request and will address the U.S.’ concerns about a trade deficit with South Korea.
 
Last month, the USTR sent a letter suggesting holding a meeting to discuss the possibility of either revising or amending the FTA.
 
Going into the meeting, Korea’s trade ministry said it will underscore the fact that the five-year-old FTA has been mutually beneficial in terms of trade, investment and employment.
 
It said it plans to discuss the best way that both sides can objectively examine, research and evaluate the effects since the KORUS FTA went into effect.
 
U.S. President Donald Trump has been vocal about a need to amend the FTA, which he sees as being lopsided. He has slammed the pact as a "job killing" and "horrible" deal. 
Park Jong-hong, KBS World Radio News.

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