South Korea will hold a second public meeting regarding the U.S.-Korea Free Trade Agreement, known as KORUS. The meeting was announced after the first public meeting was disrupted by angry farmers and livestock breeders, according to the Korea Herald, a Korea-based newspaper. The second public hearing taking place Friday (today) allows Policymakers, trade experts and citizens to take part in the talks to discuss issues related to the five-year-old deal.
Farmers criticized the November 10th hearing, claiming the gathering did not reflect the damage they had suffered. In the earlier hearing, the ministry unveiled an economic feasibility study that claimed a possible amendment to the KORUS FTA is not likely to have a visible impact on the South Korean economy because the two countries have already scrapped tariffs in many sectors.
The study didn’t disclose detailed figures on each sector due to worries it would reveal South Korea’s strategies before entering full-fledged renegotiations with the US.
From the National Association of Farm Broadcasting News Service.