The Korea–United States Free Trade Agreement (KORUS FTA) was signed in June 2007 but has not yet been ratified by legislatures in either country. The pact remains in political limbo for two main reasons: (1) the partial ban on US beef exports to Korea in response to evidence of mad cow disease in the United States, and (2) concerns about the auto provisions of the pact. The longer the beef issue—essentially a non-FTA problem—is put off, the more likely that the ratification debate will be postponed until the next session of Congress and the next US administration.
read more:
Paper
Implementing the KORUS FTA: Key Challenges and
Policy Proposals
[pdf]
Jeffrey J. Schott
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