This fall, the airports in Washington and Seoul have been full of government officials shuttling back and forth between the two capitals. News in the U.S. and Korea has been dominated by stories about the new Korean Ambassador to the United States, Korea-U.S. relations, increasing Korean FDI, economic ties, regional security, and the Korea-U.S. Free Trade Agreement (KORUS FTA).
Beginning in August, trade representatives from both countries met to discuss KORUS FTA amendment negotiations. In Washington on October 4, Korean officials agreed to beginning amendment negotiations to the free trade agreement. In November, President Trump made an extended visit to Asia with a State Visit to Korea that included a Joint Press Conference with President Moon, an address to the National Assembly, and visits to U.S.… Read More
Over the past five years, the United States-Korea Free Trade Agreement has facilitated freer and fairer trade between two of the world’s largest economies.
U.S. manufacturers are now empowered to sell their products into Korea, which is our sixth-largest trading partner. Korean businesses have in turn invested billions of dollars into the U.S., where they have helped to support or create thousands of jobs.
As a manufacturer who produces products here in South Dakota, but sells them all over the world, I understand the importance of being able to freely sell our products into international markets. It would be a mistake to abandon this important trade agreement, and the closer economic and diplomatic relationships between the U.S.… Read More
For more than 60 years, Korea and the United States have been allies and friends. A cornerstone of this relationship is the close trade ties between the two nations. Over the past five years these ties have grown ever stronger through the Korea-U.S. Free Trade Agreement (KORUS FTA).
However, in recent months, there has been pointed criticism of the trade agreement and short-sighted claims that an imbalance in the trade of goods, only benefits Korea. This narrow examination of data distorts the true picture of the significant positive impact of the KORUS FTA on the market in both the United States and Korea.… Read More
My business, Kimmie Candy, is an award-winning manufacturer of chocolate panned candies that are sold around the world in countries such as Canada, Mexico, South Korea and the Philippines. I launched the company in 2000 and it has since grown into a $5 million-plus business with more than 35 employees. I am proud of Kimmie Candy’s trajectory but my beginnings in the industry were somewhat unconventional and illustrate why the U.S.-Korea alliance is so important.
In 2000, I purchased a 40,000-pound container of chocolate-covered sunflower seeds. After learning that it was produced by a South Korean candy-maker named OoIn Jung, we connected at an expo in Chicago.… Read More