Celebrating the 10th Anniversary of the KORUS FTA

Mar 18, 2022

On March 15th, 2022, a seminar celebrating the 10th anniversary of the US-Korea FTA took place at WTC Seoul (organized by the Korea International Trade Association). Major participants included: Gwan-seop Lee, the Vice President of KITA; Hye-min Lee, the former Korean ambassador to France; Deok-soo Han, a former KITA Chairman and who was also a former Prime Minister; and Han-koo Yeo, the Minister for Trade from the Ministry of Industry, Trade and Energy. 

As many of the participants were also heavily involved in the foundation and ratification of the US-Korea FTA, the occasion was an opportunity to: evaluate the impact of the agreement on both Korea and the US, analyze the future direction of the trade agreements, and recognize the importance of free trade agreements. Similarly, a presentation by Jeffrey Schott, a Senior Fellow of the Peterson Institute for International Economics (PIIE), noted the importance of the bilateral agreement and how it served as a model for future trade agreements with players like the EU.