United States, Korea to Hold Amendment Negotiations on KORUS FTA

On December 28, 2017, United States Trade Representative Robert Lighthizer announced that negotiations on amendments and modifications of the United States-Korea Free Trade Agreement (KORUS FTA) will be held in Washington, D.C. on January 5, 2018. The United States delegation at the meeting will be led by Michael Beeman, Assistant U.S. Trade Representative for Japan, Korea and APEC. The Republic of Korea delegation at the meeting will be led by Ms. Myung-hee Yoo, Director General from the Ministry of Trade, Industry and Energy (MOTIE). With the recent completion of related domestic procedures in Korea, both delegations are meeting on January 5, 2018 to engage and advance negotiations to improve the KORUS FTA.

In July, 2017, at the direction of President Trump, Ambassador Lighthizer initiated talks to consider matters affecting the operation of the KORUS FTA, including amendments and modifications to resolve several problems regarding market access in Korea for U.S. exports and, most importantly, to address the significant trade imbalance. In 2017, the United States and Korea convened two specials sessions of the KORUS Joint Committee, which were held on August 22, 2017 and October 4, 2017.