“One-Sided U.S. Renegotiation Demands Could Lead to Annulment of KORUS FTA”

Amid the growing possibility of the United States calling for a renegotiation of the KORUS FTA, Korean foreign minister Song Min-soon yesterday declared that Korea would not consider renegotiation of the agreement.

At a press conference held in the foreign ministry building in Jongno-gu, Seoul, Song said, “The South Korean government is committed to maintaining the balanced give-and-take of the KORUS FTA."

Kim Jong-hoon, the chief negotiator in the free-trade talks with the U.S., said, “It is a possible deal breaker if the Unites States unilaterally demands renegotiation.”

The statements were made to declare the Korean government’s resolve to maintain the agreements reached in good faith with the U.S. with the understanding that the agreement reflected U.S. views in the labor and environmental sectors in accordance with U.S. trade laws.

However, the Korean government is also bracing for a scenario in which the U.S. officially demands a renegotiation of the FTA.

A government official said, “We are also mapping out how to take advantage of the renegotiation in case it happens. However, even if the two nations enter into additional talks, the change is projected to occur only at the annotation level.”

On May 15, Alexander Vershbow, the U.S. ambassador to Korea, officially publicized the U.S. renegotiation proposal by saying “The two nations need to cooperate in a few weeks of time to reflect more stringent labor and environment standards.”

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