Kirk Calls For Swift Approval Of South Korean Free Trade Agreement

By Rachel Whitt, Kaeun Yu

U.S. Trade Representative Ron Kirk said Thursday that the Obama administration will be pushing Congress to adopt a free-trade agreement with South Korea. Kirk, along with South Korean Ambassador Hun Duk-Soo, promoted a quick adoption of the Korea-U.S. Free Trade Agreement (KORUS FTA).

Kirk said Congress should ratify the agreement, preferably by July 1, to keep the United States on pace to compete in a global market. 

“[The United States] has been in a debate about how much we believe in free trade, whether it’s good for us or not.” Kirk said. “But the rest of the world has answered that question. Whether it’s Korea or Europe or Germany, the rest of the world sees part of their economic future in global competition… Folks, we gotta move.” 

Both countries agreed on the current bipartisan version of the FTA on Dec. 3, 2010. If finalized, the agreement will lower U.S. consumer and industrial export tariffs by 95% over the next three years. It would also require South Korea to recognize USDA standards on food products and would make the South Korean market accessible to all major service sectors. 

Should Congress act on Kirk’s suggestion of a swift adoption of the new agreement, South Korea would become the first Asian country to have a free trade agreement with the U.S.

“It is a good agreement, for the U.S. and for Korea,” Kirk said “It’s a win-win, it will help us create jobs at a time [when] Americans desperately need it.”