Student Perspectives

New Free Trade Agreement (FTA) on Korea’s Horizons?

During the spring of 2011, I completed research on the agricultural regulations outlined in the then-proposed Korea-United States (KORUS) FTA. Much to my surprise, I was studying abroad in Seoul, South Korea this fall when the FTA finally passed. While researching, I inserted pictures of South Korean FTA protests in my paper, yet last semester, I was stumbling upon such protests in areas like Seoul Station and Gwanghawmun.


The opinions I heard from my Korean friends in Seoul were varied. While most I talked with stated concern for Korean markets, specifically the agricultural market, a few felt that the FTAs would ultimately make Korea more competitive in the global field. One group of friends happily remarked that the FTA would bring the US and Korea closer, although this was not a concern for most. I only wished I could have spoken to older Koreans about their stances, particularly those in the agricultural field.


With the KORUS FTA finally passed, my attention is turning to budding FTA negotiations between Korea and China. These preliminary talks have earned President Lee Myung-Bak the nickname ‘FTA President’ and have created more cause for concern among many Koreans. Korea’s FTAs with the European Union and the United States have already critically impacted Korean agriculture and small businesses.


Could these Korean markets withstand the impact of a Sino-Korean FTA? Can the government afford to keep prolonging the measures they put into place to lessen the blow, such as covering 90% of the loss on farming equipment and offering two million US dollars in loans to manufacturing businesses that report a 5-10% drop in sales? And how will the KORUS relationship fare if such an agreement is made? With Lee’s administration stepping down this year, it will be interesting to see where the next administration takes these talks.


With a return to Korea in mind, perhaps I haven’t seen the last of Korean anti-FTA protests.


-Kayla Howe
BA International Affairs, 2012
George Washington University




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