The U.S. and Korean Trade Agreement Initiative

The U.S. Senate Foreign Relations Committee Chairman, John Kerry (D-MA), and a Ranking Member of the committee, Dick Lugar (R-IN), called for the timely resolution of outstanding issues related to the U.S.-South Korean trade agreement.  In a committee meeting in May, senators Kerry and Lugar argued that it is in the best economic and strategic interest of the United States to strengthen ties with it’s allies. 

“The United States should work with South Korea to resolve legitimate concerns and quickly approve the U.S.-Korea Free Trade Agreement.  This step could be a significant part of the President’s goal of doubling U.S. exports over the next five years to create well-paying American jobs,” said Chairman Kerry.  “South Korea ranks among our very closest allies and partners. When Seoul hosts the G-20 meeting this November, I hope the United States can point to substantial progress on KORUS as part of a broader U.S. engagement with the Asia-Pacific region.”

Lugar adds “Improving trade is critical to meeting our economic and diplomatic challenges around the globe. South Korea is an important country and economy. Approval of this agreement will lead to greater opportunities”. Senator Lugar has been a long-time advocate of the US-Korea Free Trade Agreement.