USTR Requests Consultations With Korea Over Monopoly Law

The Office of the U.S. Trade Representative requested consultations with South Korea because it says South Korea's approach to free trade investigations violates provisions of the U.S.-Korea Free Trade Agreement (KORUS). The FTA says that a party before the Korea Free Trade Commission or the International Trade Commission should be able to review and rebut the evidence against them. "Following extensive efforts to resolve this concern, USTR is requesting consultations at this time because recently drafted amendments to Korea’s 'Monopoly Regulations and Fair Trade Act' fail to address U.S. concerns that KFTC hearings continue to deny U.S. firms due process rights under the KORUS agreement that are necessary to secure a fair competition hearing in Korea," the office said March 15.