Wednesday, February 22, 2012 9:50:05 AM
With an economy that depends heavily on trade, Korea has been actively seeking free trade agreements (FTAs) over the past decade. The government’s push to open up to foreign markets through FTAs has helped the resource-scarce country rise to rank as the world’s ninth largest trading nation. This year Korea’s trade volume is expected to surpass $1 trillion.
Wednesday, February 22, 2012 9:50:05 AM
The ruling Grand National Party on Monday renewed its resolve to vote on the Korea-U.S. free trade agreement with the key parliamentary plenary session scheduled for Thursday after weeks of political wrangling over the ratification bill. “The Korea-U.S. FTA is a matter of national interest and of paramount importance; we can no longer tolerate the opposition’s approach (to the FTA) out of partisan interests,” GNP spokesman Kim Ki-hyun said in a briefing after the party’s supreme council meeting Monday. “The GNP has agreed to squarely handle FTA ratification as early as possible.”
Wednesday, February 22, 2012 9:50:05 AM
President Barack Obama, working to put his own stamp on the rules of international trade, is pursuing an agreement with eight Pacific nations and looking beyond them to the prospects for adding Japan and China. . . South Korea may also look to join the Pacific talks to strengthen its trade ties with the other nations...
Wednesday, February 22, 2012 9:50:05 AM
A free-trade agreement between the U.S. and  South Korea reached more than four years ago will take effect as early as Jan. 1 after lawmakers in Seoul approved the deal over objections from opposition legislators.
Wednesday, February 22, 2012 9:50:05 AM
U.S. Trade Representative Ron Kirk made the following statement today regarding the Korean parliament’s passage of legislation approving the U.S.-Korea Free Trade Agreement (KORUS FTA): “The United States welcomes the Korean National Assembly’s approval of the KORUS FTA,” said Ambassador Kirk. “This is a win-win agreement that will provide significant economic and strategic benefits to both countries. We look forward to working closely with the government of Korea to bring the agreement into force as soon as possible.”
Wednesday, February 22, 2012 9:50:05 AM
The free trade agreement (FTA) between South Korea and the United States may take effect by February next year despite more time needed for preparation, Seoul's top trade official said Wednesday.
Wednesday, February 22, 2012 9:50:05 AM
This year both the South Korean Parliament and the U.S. Congress passed the long-stalled Korean – U.S. FreeTrade Agreement (KORUS FTA). Although this pact is expected to herald an era of mutual prosperity to both countries, little is known as to another potential for a bigger diplomatic-economic success: The KORUS FTA may offer North Korea powerful incentives to behave.
Wednesday, February 22, 2012 9:50:05 AM
The Port of Portland (Ore.) expects to send 10,000 Ford vehicles to South Korea this year, an agreement that predates a recent free-trade agreement between the two countries. . . Port official Greg Borossay says the trade agreement will help Ford sell cars in South Korea.
Wednesday, February 22, 2012 9:50:05 AM
With the pro basketball season finally starting, I find myself repeating the scalper's refrain, "Who's buying? Who's selling?" But I'm not thinking about tickets; I'm thinking about business, and small business in particular. . . South Korea comes out on top.
Wednesday, February 22, 2012 9:50:05 AM
Ocean Spray are seeking to raise their profile in Korea where the majority of the population is unfamiliar with cranberries, despite the prominence of the fruit on the world stage. Korea is an important market for the group, being Asia's fourth largest economy.
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