ASK THE EXPERTS: U.S. KOREA CONNECT SITS DOWN FOR AN INTERVIEW WITH TRADE EXPERT SANG AH KOH

lawyer-sang-ah-koh-photo-1062091In anticipation of the upcoming second anniversary of the implementation of the U.S. Korea Free Trade Agreement (KORUS FTA), U.S. Korea Connect sat down this week with legal expert and consultant Sang Ah Koh for a question and answer session. Ms. Koh talked to us about her role, what lessons she’s learned working with companies trading under the KORUS FTA since its implementation, and what she thinks companies should be paying attention to in the next year and beyond. Below is an excerpt from our interview. For the full transcript, click here.

USKC: Are there best practices when calling a Korean partner company?… Read More

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The KORUS FTA and the Debate Over Trade Promotion Authority

KEI_LOGO-OABelow is an excerpt from “The KORUS FTA and the Debate Over Trade Promotion Authority” by Troy Stangarone, originally published February 10, 2014 on the Korea Economic Institute’s blog The Peninsula. For the full article, please follow the above link.

In the ongoing debate over granting President Barack Obama Trade Promotion Authority (TPA), previously known as Fast Track, three Democratic members of Congress pointed to increased merchandise trade deficits with Korea after the implementation of the KORUS FTA as a reason to oppose a new grant of TPA. However, while the merchandise trade deficit with Korea has grown over the last year, this is an incomplete picture of both KORUS and the importance of a new grant of TPA.… Read More

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The Georgia Standard

220px-Nathan_Deal,_official_110th_Congress_photoGeorgia and Korea have long had a strong and successful economic partnership. In 2012, that partnership was strengthened by the implementation of the U.S.-Korea Free Trade Agreement (KORUS FTA). I’m proud of the work our state has done to fulfill the promise of that agreement. As we enter 2014 and approach the second anniversary of KORUS FTA implementation, Georgia businesses are expanding into Korea and Korean businesses are creating jobs in Georgia, continuing to strengthen our state’s connection with Asia’s fourth-largest market.

Under the KORUS FTA, our state is the top exporter of many products from the U.S. to Korea, including gas turbines, glass products, organic chemicals, carpets and textile floor coverings, to name just a few.… Read More

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Washington’s Success Under the U.S. Korea Free Trade Agreement

AboutJayI recently had a chance to meet with Korea International Trade Administration Chairman Han Duck-soo and a delegation of business leaders from Korea. We took time to reflect on the successes and opportunities under the U.S.-Korea Free Trade Agreement (KORUS FTA) since it was implemented 18 months ago. From agricultural companies like Allied Potatoes to well-known companies like Boeing, Microsoft and Starbucks, Washington’s innovators are making waves in the Korean market.

While visiting Washington, Chairman Han called for continued dialogue between business leaders in Korea and Washington to promote our increasingly close ties with Korea. I wholeheartedly agree with him about the importance of strengthening these ties through alliances like the Korea-Washington biotechnology partnership we secured last year to advance our cooperation in research and development in the bio industry.… Read More

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Building a business network under the KORUS FTA

Business-Networking

Since the implementation of the KORUS FTA almost two years ago, Korean and U.S. companies have seen the benefits of increased trade and lowered tariffs. Manufacturers, distributors, logistics companies, attorneys, consultants and more are enjoying new opportunities for business growth and economic development because of the KORUS FTA.

While many companies are capitalizing on the KORUS FTA, others haven’t yet maximized the agreement’s opportunities. To help those companies, organizations like the Korea International Trade Association (KITA) plan and execute networking events that bring together business leaders and entrepreneurs from Korea and specific U.S. regions. These events are attended by trade facilitators and officials, who help to forge new partnerships while strengthening old ones.… Read More

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