The United States – Korea Free Trade Agreement:

Y.S. Lee, The Law and Development Institute

Abstract

The U.S.-Korea Free Trade Agreement, currently awaiting ratification of legislatures of both countries, is known to be the most significant bilateral trade agreement since the conclusion of the North America Free Trade Agreement (NAFTA). Both governments have promoted the U.S.-Korea FTA as the trade agreement that will enhance trade between the two countries and promote economic prosperity. The article critically reviews the inherent features of the U.S.-Korea FTA and examines whether the FTA is expected to promote the promised economic prosperity.