On September 4, 2018, the Office of U.S. Trade Representative (USTR) and South Korea’s Ministry of Trade, Industry, and Energy published the agreed outcomes from the U.S. –Korea Free Trade Agreement (KORUS).
The agreed outcomes contain the amendments and modifications agreed to by the U.S. and South Korea and the publication marks the completion of the U.S. domestic consultation procedures.
Some of the changes include:
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Recognition of the right to apply anti-dumping and countervailing duties;
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Transparency and due process;
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Investment, including investor party claims.
The amendments will come into force on the date that both countries exchange written notification that they have completed their respective legal requirements.
The USTR press release may be found here:
The text of the amendments to KORUS may be found here:
https://ustr.gov/sites/default/files/files/Press/Releases/KORUS%20Texts%20Outcomes.pdf
