US and South Korea Agree to Renegotiate KORUS

US and South Korea Agree to Renegotiate KORUS

The US and South Korea concluded their second special session on October 4. After an inconclusive first round in August, the countries have now agreed to begin talks focused on amending the agreement. South Korean Trade Minister Kim Hyun-chong stated that “The two sides recognized the need to amend the FTA to enhance mutual benefits of the KORUS FTA.” Ambassador Lighthizer also released a statement outlining the areas that the US will focus on in the upcoming negotiations, which you can read  here.