U.S.-Korea Free Trade Agreement Text Made Public Providing Important Details on How Companies Can Capitalize on New Korean Market Access Opportunities
The U.S. and Korean Governments have publicly released the text of the recently concluded U.S.-Korea Free Trade Agreement ("FTA"). The comprehensive 24 chapter agreement (over 1,000 pages) provides details on the schedule for the elimination of Korean tariffs on U.S. manufactured goods and agricultural products, new market access opportunities for U.S. financial and other service sectors, investment protection and Korean obligations to benefit U.S. companies in key sectors such as pharmaceuticals, autos, and intellectual property-related industries. The final legal text is scheduled to be signed on June 30 and then will be submitted to Congress for ratification. Our FTA team has been deeply involved throughout the entire negotiation process and is prepared to provide an in-depth analysis of the FTA and/or specific provisions which have an impact on your company's product or sector.
For more information, please contact the professional(s) listed below, or your regular Crowell & Moring contact.