Skip to content

Korea-US FTA

November 14, 2011

The free trade agreement between Korea and the US is the hot ‘topic du jour’. Started in 2007 with the Roh Mu Hyun government, the agreement was reached after years of challenging negotiations. The US has ratified the agreement and is waiting for Korea to do the same. However, intense debate and fighting are threatening ratification.

Students: This topic is quite complex, albeit one of great importance. To simplify things, you may write about any particular aspect that interests you. For example, you might consider to write about one of the following;

1. How do you feel about the FTA with America? Overall, do you think it will be more beneficial to Korea and Koreans than no FTA?

2. What benefits do you think there will be? What loses might occur?

3. Who do you think stands to gain or lose the most if the deal is ratified and becomes law? Think about large companies like Hyundai, Samsung, and LG; particular industries such as medicine, electronics, finance; small and medium companies; farmers; employees; consumers; neighboring countries such as Japan, China, and Taiwan; etc.

3. How might you personally be affected by this agreement?

4. Have you heard any rumors concerning this agreement? Do you believe them or not?

5. Does this agreement differ from other FTAs Korea has signed with other countries?

6. Your ideas, feeling, or thoughts about this critical agreement

35 Comments leave one →
  1. November 16, 2011 8:33 pm

    Nowadays, FTA is primary concern. I can see news of FTA anywhere such as Newspaper, TV and Internet. I also listened to rumors about FTA. This rumor is horrible. For example, medical expenses will become extremely expensive, so many poor people can’t get a treatment. Another rumor is about increase of public utility charges such as electricity, water and gas . This rumor gave a concrete example of another nation. So I believed this rumors significantly. But now I also read an article refuting prior rumors. This article said Rumors are not true at all. So frankly, I am confused. But I hope the National Assembly passes the FTA later after careful consideration.

  2. Jeong Hye rin (B) permalink
    November 16, 2011 10:51 pm

    I’m concerning about ‘sacrificing small things to save a great thing’. Certainly, through Korea-US FTA, I think the economies of both countries is much more closely and also can generate significant benefits in particular field. However, one of things that are most concerned is the problem of agricultural sector. In the agricultural sector of US, US wants to take advantage by exporting agricultural produce because US has significant scale much more than Korea’s agricultural sector. On the other hand, as globalization and trade between nations is increasing, Korea’s farmers is financially much harder than in the past because of coming the relatively cheap agricultural products. If Korea more expands such as rice from the US in the future, Korea’s self-agricultural field is seemed to be getting a severe recession. However, in the industrial service of Korea large company’s semiconductor and automobile, Korea-US FTA conclusion might give to significant benefits such as a tax benefits to be obtained, it can lead a rising exports in Korea. Thus, to success Korea-US FTA, perfect establishment of reward system is definitely needed for meaning ‘small’ people who suffer material damage by FTA.

  3. Olivia 2 permalink
    November 17, 2011 12:39 am

    I think that FTA might influence great power to domestic medicine market. Multinational medicine corporation will have powerful influence in domestic medicine system because they might use their many kinds of patents to increase the price of their medicine. It is fatal to special patients group who have to take particular medicine in long – term such as PL(people living with HIV). PL must take several important medicine to live and maintain their homeostasis. But, medicine for AIDS are very expensive and hard to purchase because supply is very low compared with demand. So, korea government let the hospital to provide some copy medicine in low price. However , if the FTA might contracted, many PL are unable to get the copy medicine in low price because of the patent of the multinational corporation. In other conuntry, some AIDS patients have to work as sex worker to purchase their medcine. PL are usually very hard to find a job because of the prejudice in the society that they have HIV germ . So, the only way is be a sex worker. I was one of the staff in ICAAP10 (The 10th international congress on AIDS in Asia and the pacific) held in Busan this summar. I saw many sessions about AIDS and had a conversation with many PL. They have many difficulty in their life becuase of the disease but they never lose the wish that they will have normal life like other people. For this reason, I am worried about FTA influence to domestic medicine market.

  4. Rina You(A) permalink
    November 17, 2011 1:12 pm

    FTA (Free Trade Agreement) means an agreement between two or more countries to eliminate on exports, enable to increase their trade. It was limited to goods the past days, but nowdays it means a wide idea including services, investment, education and so on.
    As the world has became globalize , FTA has expanded internationally but south Korea have given a passive support to FTA. Now, FTA isn`t a optional problem but a general tendency of the world. I think the current biggest issue in our society is also the FTA.

    In my opinion, the ‘Korea-U.S. Free-Trade Agreement is crucial to the both countrys negative future. The world is getting one. According to the globalization, Korea can’t help going into the current. Free-Trade Agreement between Korea and the United States(hereinafter FTA) is also one of such a result. The whole country is seething over the question. Perhaps FTA has its advantages, but I don’t think that it just causes a good point.
    First, if FTA is signed, our agricultural industry will get a serious blow. The floods of the cheap farm products weaken a competitive price of our agricultural conducts. If our agriculture goes to ruin, we will have to buy rice at high price with biting the bullet. Our staple food is rice. We must not exchange our root for the economical benefit although it is very big.
    Second, FTA deepens a gap between the rich and the poor. It is still widening now. In this situation, it raises the question of a division of profits it causes. Companies support FTA for the larger benefits than before. But all of benefits are not given to work people. It just makes the gulf much deeper. A country is made up of most of the employees and a few of the chairman. FTA is necessary to be for all the people.
    Third, FTA is tried by the government without a social agreement. Now, the majority of the people don’t know it in detail. The government, however, never makes more comments on it. The government represents members of a nation. It should not deal with the important problem like FTA without an approval of the citizens.
    For these reasons, I object to FTA because it has more disadvantages than advantages. In the long view, Korea will go through the question of procuring the staple food and face a lot deeper the gap between the rich and the poor. Also, it still remains an issue that whether people take it accepted or not. The fact that a nation becomes open stands for being willing to take its risk. Compared with the profit FTA causes, however, its risk is too large to exchange the profit. To prevent from coming to this crisis, FTA must not be signed.

  5. Panda0928(B) permalink
    November 17, 2011 2:02 pm

    Korea-US FTA a direct influence a positive impact and a negative impact on me.
    First, positive impact. Korea-US FTA agreed on the pact, cherries, California wines is immediate duty-free benefits. we expected price cuts and we expected to buy U.S. meat so cheap. consumers can be purchased at low prices to buy food.
    however, negative impact, drugs and medical privatization progress. as a result , very expensive burden to bear medical bills and prescriptions.
    Associated with privatization of health care, in the past I’ve seen a documentary, one man who cut off the fingers. charges for an operation are too expensive, so he could not surgery all hurt fingers, he just surgery two fingers..
    Korea-US FTA has positive impact. But relation with privatization of health care, we consideration more and more.

  6. Hye Jeong LEE (B) permalink
    November 17, 2011 7:15 pm

    If FTA concludes with America, there would be merits and also demerits. According to the FTA treaties, signatory countries abolish tariff walls.
    So, one of the advantages in the contract is in the trade competitiveness aspects. Because Korea’s cars or electronic products have considerable influence on foreign countries, we can expect their export rate to increase rather than other countries’ export rate. In case of US, it has great influence in manufactures or agricultures. So, they can benefit from those fields. But, both countries may lose competitive powers in their respective fragile fields.
    Secondly in consumer aspects, consumers can have broad selections with lowered prices because FTA causes the effects of pricing down from collapsing tariff walls. On the other hand, because of decreased production and strengthened intellectual rights, consumers’ burdens in agricultures or medicine fields may be incremented in Korea.
    Finally,thruough the opening, both countries can develop our society system by receiving opportunities to improve competitiveness.

    I think we don’t need to debate continuously to see what is good or not. Now, What we need to do is to plan to fit well following FTA. In my opinion, consumers have more benefits than loss. They can buy from a variety of kinds of products with decreased prices. Also,the quaility of those products will be improved through competitions between companies. We will just be able to know the consequences of FTA after a few years.

  7. Yujin(B) permalink
    November 18, 2011 2:28 pm

    From the Critics’s standpoint about FTA between Korea and U.S, the problem of these issue is what government hastily promote without enough sympathy of nation. I think FTA is unilateral agreement and this treaty seems to favour the US in many points.
    It is true this treaty has advantages. First, our export volume, especially field of fiber, clothes, leather, automobile and electron will increase. It can invigorate the economy. Moreover, government said It will contribute to creation of job and consumer can get high-quality goods at relatively inexpensive price.
    However, there are also lots of demerits more than merits. These days, the most disputed clause is ISD but I think this agreement’s problem is not only this. 12 major clauses including snapback, negative list in service filed, future MFN treatment and necessity test reveal that FTA is completely an unequal treaty. Now, civic groups call on the whole nation to join in their demonstrations against the unequal FTA.
    The important key which can settle this trouble is sympathy of nation and when government think what is really needed for whole nation , this problem about FTA can be solved.

  8. Gabriel permalink
    November 18, 2011 6:47 pm

    FTA is one of the most important aspect for the global growth of a nation. FTA between Korea and U.S is a prerequisite essential pending issue but is causing a complex figure like a tangled skein. In my opinion, FTA is no longer a free trade agreement because all the benefits are only for the U.S. FTA would bring a damage to specific field such as agriculture,telecommunications,legislation or in the medical field. But the most important reason is the poisonous clauses. This clause is ignoring the national sovereignty and the contempt of the judicial power therefore the nation is facing with indignation.

  9. nbbcrw1(B) permalink
    November 19, 2011 11:50 pm

    The main idea of FTA is ISD(Investor-State Dispute Settlement). This is the agreement only for ‘investors’ not for the public benefit. This makes the “investors of U.S” a special level while making our public a second-class people. It seriously harms the authority of the public. Moreover, Korea’s court cannot invoke a judicial power, judgments made by the court and constitutional court of our country could be a target of suing. It is an unconstitutional measuring that invading the judicial power, and violating the Korean public’s right to equality which actually we deliver the judicial power to “investors of U.S”. Therefore, I don’t really have a nice view of this situation.

  10. Star permalink
    November 20, 2011 1:41 am

    FTA between Korea and US is too difficult topic to handle. A lot of strange stories about the FTA sprang up everywhere on the internet. Furthermore, the experts have conflicting opinions and government is pressing ahead with this agreement without public support. Someone tells if for-profit hospitals are introduced in the country, medical costs can soar. Under the free trade agreement between Korea and US, the possibility of a great rise in medical expenses is an accepted part by the supporters and opponents. Many people are expressing concerns about that. Therefore, I hope government has to do its best to resolve the rumors and minimize negative effects resulting from the FTA.

  11. Jeong hyo kyeong permalink
    November 20, 2011 2:15 pm

    I will talk about my opinion on US-Korea FTA (Free Trade Agreement)
    I agree with the FTA.
    Firstly, it is because USA is the largest world market which covers 21.8 percent of world’s export.
    Also, USA’s investment is world’s number one.
    The biggest problem in the current Korean economy is the stagnation of investment from the business firms.
    Through the FTA, investment environment will be more visible and allow more investments. Moreover, it will create jobs and create an opportunity for an active economy.
    On the other side, there are statements that if the FTA is agreed, Korea will follow the bankruptcy of Mexico. This is a statement without supporting evidence.
    After the FTA, the GDP of Mexico doubled and exports tripled.
    Also, the inflation of medical expenses and medicines if the FTA is agreed are just rumors.
    And, FTA won’t increase the unemployed, but instead create more job opportunities through increase in exports and investments in manufacturing and service industries.
    When you look at Chile-Korea FTA which is already settled, increase in exports and the seizure of Korean products in Chilean market increased.
    Lastly, there are statements that the Korean government has no plans after the agreement of FTA. Well, this is a wrong statement.
    The Korean government is planning on investments in manufacturing, agricultural, and fisheries industries. Also the government is establishing chances and plans for the unemployed for change of occupation and re-employment.
    Therefore, I believe that US-Korea FTA should come to an agreement.

  12. Haley permalink
    November 20, 2011 2:25 pm

    FTA between Korea and US is a double-edged sword. Especially, in economy aspect, some competitive domestic enterprises can have a more broad global market, the other weak domestic enterprises can lost thier own market. Whatever the choice is concluded, there would be advantages and disadvantages. At the same time, we can not avoid glaboal market trend and it is hard to support our economy without global trade because Korea depends heavily on the foreign trades. Therefore, if FTA is an avoidable problem, this agreement should be well-regulated by our government to protect our country. So our government must have exact measures to regulate foreign enterprises properly and to minimize damages from FTA.

  13. Seongyoon Yoon(A) permalink
    November 20, 2011 7:32 pm

    Obviously, these days FTA is the hottest issue. However, we can’t find many information or media about this. I think there is some pressures we don’t know well. But the FTA is too closely connected with our life to proceed by only some people. In NAFTA cases, the result of FTA is predictable. USA is the only country having a benefit from the NAFTA. If we follow the USA’s conditions blindly, our base of society like public services, cultures can be destroyed. For example, appendectomy will rise from thirty-thousand won to nine-million won. So we have to make the rules suit for our country. In addition, this is related with our society. This is not a story from other countries. It is our reality. We have to pay attention more on it.

  14. November 20, 2011 7:46 pm

    I believe FTA would be beneficial to Korea overall. It would benefit almost all of people get good product cheaper price, selling Korean product more than before to other countries. However, in some parts, for example, agriculture industry will get an impact critically. Therefore, big compalnies such as Hyundai, Samsung, and LG will gain it but small companies, farmers etc will get a big damages from it. For personally I would benefit because I can get nice product for cheaper price than before.
    I haven’t heard about rumors about FTA but I am sure that this agreement differ from other FTAs Korea has signed with other countries. Other countries, such as FTA with chille was succesful overall, because industries we are good at is not good at chille also for chille is same. So it was quiet harmonious. But this case is NOT. Thank you.

  15. Park Ji Su (B) permalink
    November 20, 2011 9:08 pm

    I thought about the Korea’s advantages and disadvantages of Korea-US FTA. Korea-US FTA can cause growth of production through opening Korea’s markets to the world. It can be the driving force of economic growth by attracting the foreign direct investment. However Korea-US FTA also can bring about weakness of competitiveness level of Korean business. In situation of being insufficiently competitive, inflow of the US industry can strikes a blow to Korean company, industry and so on.

  16. Hong Jung Eun permalink
    November 20, 2011 9:31 pm

    FTA is the important issue most Koreans debate. Since the issue has been the problem in Korea, in 2007, I heard a lot of negative opinions from others. When the first issue of FTA came out, lots of Koreans concerned about mad cow disease and went to streets to demo. Because of it, government stopped to ratify and the issue seemed to be forgotten.

    However, the issue has came up to the surface, recently. President Lee and his government is pushing ahead with the FTA. It might be a merit to Korea, but it’s for Only a very small minority of people. Although it will help major companies in Korea, Lots of side effects are waiting. I think the problem of the privatization of health care is the most serious. Somebody talks it’s just a rumor, but in the debate in government, the nation’s Trade Minister Kim Jong-hoon said that only in Free Economic Zone and Jeju, the privatization of health care will be allowed. However, considering Free Economic Zone, most of the region can be in the charge of the privatization of health care. As all the people know, it just make poor people’s much harder. When they get a serious illness, they couldn’t get good care because of the cost.

    In sum, FTA is just for the privileged class, not for every person. Unless the government presents a right alternative, FTA would not be ratified in a normal way.

  17. Chaily permalink
    November 20, 2011 10:28 pm

    Okay, it’s the hot potato, and, I am not familiar with the whole political terminology, so, I’ll cut down to the summation. If the Korea-US FTA is approved, it would be beneficial to those eager to buy Chevys and Chryslers. But, let’s think about the case of living far from the labels of luxiouries. Not everyone’s working for Samsung or LG. What if your father is involved with stock raising? What if your mother is devoting herself into fishery? What if our parents cultivate rice which is the dominant diet for the citizens? When cheap American rice flows into malls at half prices, it is seemingly good for those live by frugality, maybe for the next 3, 5 years? And after going through the overflow of imported grains, the domestic rice production should be almost at the stage of extinction, or at least very inactive and dull. Then what happens? Obviously, the American merchandisers start to draw up their rice value after they’ve checked that Korea has no self-generating products, which means we won’t have any choice but to buy theirs even if they put grains as twice expensive as of the original cost in the market. What that means is we will gradually lose our sovereignty on our food. Ha-ha, but the bigger problem is that it will not just end up on rice only.

  18. Nam permalink
    November 20, 2011 10:38 pm

    FTA is the hottest news these days, but I haven’t been interested in that honestly. So, I just do know of that news, I don’t know about many details of that. I heard of much rumors about negative effect on FTA and it makes me have bad feeling about FTA. Of course, I don’t believe all of rumors including after ratifying the FTA Koreans might use rainwater for city water because American institution will get a right of supplying Koreans expensive city water. Like this rumor, it is believed the fact. I think the government controls the negative ideas being reported. The government should inform the pros and cons of FTA and decide how to deal with FTA considering what people think about.

  19. Lia(B) permalink
    November 20, 2011 11:02 pm

    FTA makes the thing’s taw low, so we can buy things with lower price than before. This means the consumer can have more chances to choose products. It can be profitable for Korea’s company like Samsung, LG, and Hyundai. If we contract the FTA, they will sell their products with low price to America. This low price is one of the competitive power. America’s consumer will buy Korea’s products than Japan’s or China’s products if they have similar quality.
    Many poeple concerned about the damage to korea agriculture industry and many kinds of things. Definitely, korea agriculture can be injured, and many other concerns are exist. However through the FTA with America, there are more benefits than damages.
    Nowadays is a free competition society, so we can stop competition with others. We have to enter into competition with other countries.

  20. bliss^.^(A) permalink
    November 20, 2011 11:11 pm

    FTA is the topic that most people pay attention to. It is also noted what the opinion of Ann Chul Soo ( I am not sure about the spelling^^;) is. But , little bit disappointhingly, he doesn’t tell any opinions now. By him, he is the first candidate of the next president. So, his opinion will affect the opinon of two parties. Therefore, there are such a lot of guesses and demands , but he is not saying anything. There are no ways for asking about it. So some poepole thinkg that he is just sticking to his mysterious strategy. The thing is that if he gives any opinion about it, it is like the beginning of the political world.

  21. KimTaeGyeong(B) permalink
    November 20, 2011 11:24 pm

    In my opinion, FTA between Korea and USA should be ratified considerably. Korea has grown up so fastly than other advanced countries. Hence, the structure of Korean industry is different from them. It wasn’t wrong way to develop country but it wasn’t good for Korean. As a result of the way of developing country, there has been a lot of troubles in Korea like democratization, based on major company, and lack of welfare. Barely, Korea is catching up the level of advanced countries in everywhere. Then, if Korea ratifies the FTA with USA rashly, there must be a shock on Korea overall and it will be hard time again.
    In conclusion, FTA may be a duty because we can’t stop globalization. So, Korea should consider its domestic aspect and foreign aspect to get win-win effect of FTA.

  22. Elly permalink
    November 20, 2011 11:45 pm

    As the question said, “Korea-US FTA is quite complex, albeit one of great importance. To be honest, most student do not know about the topic very well. They maybe know what FTA is, and that korean government cover it thesedays, which are very simple facts. It is surely a problem. Although the reason of this problem is in student’s attitudes, it is not all. Why do they have that kind of attitude? It is because anybody don’t teach and imform us about FTA. The government do not imform about it according to the level of student for understanding. school do not teach FTA at all, which is very important issue to every person even students are young. So, the effort to solve the problem is needed not only to students but to government or schools. We, students, should try to be interested in FTA and also government and schools should teach students about all of FTA.

  23. OMG permalink
    November 20, 2011 11:50 pm

    The Korean president Lee-Myung-Park said, Korea and US F.T.A is a win-win agreement. However this statement can be true or not according to who the beneficiary is. Simply speaking, what is food to one, is to others bitter poison. For example, the most common beneficiary is car industry, while farm industry can be a victim of FTA. More specifically, the rich can make a rich, and the poor can suffer from poverty. This is why some opponents call this agreement as a ‘agreement between the wealthy and the wealthy’ not between Korea and US. Therefore, the Korean government suggest effective and convincing alternatives to prevent potential problems by FTA especially for the poor and the middle-class.

  24. mina kim (a) permalink
    November 20, 2011 11:52 pm

    I think Korea-US FTA seems benefical for the present but it will give a huge negative impact to Korean economy in the long term. Since America is the most powerful country in the world, korea will be dominated in the long run no matter how korea try to strengthen international competitveness. For example, let’s think of te case of agricultural products. If we buy an american cheap rice, korean farmers have no way to earn their money and finally they can lose their job. By when all korean farmers are disappeard, what if americans raise the price of rice? All koreans will be a victim of FTA. Not only Korean citizens but also multinational companies like samsung or hyundai are affected negatively. No one would like to buy Sonata(from Hyundai) with same price as Lexus.
    For these reasons, I think FTA should be radified strictly and all citizens should be aware of the result of impetuous FTA negotiation.

  25. Ahn Je ho (A) permalink
    November 21, 2011 1:02 am

    that is Korea-US fta negotiation is to strengthen Korea-US alliance. i think it’s is most of one fta’s advantage.
    on the other hand, korea-US FTA will help Korean get the upper hand in advancing into the U.S. markets which account for a quarter of the world’s total GDP. The free trade deal will help generate more jobs, small- and medium-sized firms will benefit from expanded trade volume, people will purchase various quality goods at a cheaper price, and young people can have more opportunities to go out into the broader world. (President Lee also talked about the same story as above)

  26. Son Eun Kyeong(B) permalink
    November 21, 2011 1:07 am

    FTA has merits and faults to the Korea.
    FTA increases competition by the open-door policy, so this argument will improve productivity from trade point of view. therefore, so It could be economic growth. FTA also would be beneficial for consumer. However, There are many factor that we should worry about. From a long-term perspective, FTA could be a conquest by US in every phase of korean society, like a case of NAFTA. This argument threat to own industries. Preconditions, like the screen quota and beef imports, already set inappropriately. There are more disadvantages such as the import of rice which make Korean rice farmers hold anti-import demonstrations. Therefore, I think FTA need a amendment. I not familiar with FTA before, Because of this blogging homework, It is a good chance to know and think about FTA.

  27. Kim yi eun(A) permalink
    November 21, 2011 1:36 am

    (It is an opinion about FTA)
    I think it is “two sides of the same coin”
    The free trade agreement is expected to increase the growth rate of the South Korean GDP and also the government cite increased foreigh direct investment in Korea and heightened competition. However,althogh the agreement creates more jobs and boosts economic growth, it have many other bad-effects.
    One of its advantages is our market is bigger than before.and we can get great profit through trade. And we can have competitiveness of price.
    However, we probably damage our product which don’t have enough thechnical skills.Especially farming, we do not produce our agriculture. Therefore, we lose our competitiveness of price.
    According to these opinion, i think it does not late to agree FTA after we get competition.

  28. Mr. H permalink
    November 21, 2011 1:38 am

    I believe that the FTA between the U.S and South Korea is ideal,
    because that it provides American workers and businesses with new
    opportunities. But there are opposition from the South Korean
    National Assembly and U.S. Congress due to negotiations regarding
    automobiles, and agriculture. However if it keeps on going, than
    U.S. economic engagement with Korea with expand new opportunities
    for the American economy.
    The benefits will be big for the U.S and Korea, however there can be
    losses also for both sides in capital.
    I believe that Korea will lose capital particularly big companies in Korea
    in industries like automobiles and agriculture.
    I doubt that I will be personally be affected by this agreement.
    I have not heard any rumours concerning this agreement, and if there were
    I believe there would be a lot of rumours.
    This agreement is one of a kind, and I believe this FTA with America is good.

  29. ED xotjr permalink
    November 21, 2011 3:38 pm

    FTA between Korea and the States have been the most controversial issue in Korea. Even though some have exaggerated FTA as the breakthrough for the economic recession, I strongly believe that the government should consider much more about the issue before making descision. Certainly, the freetrade could allow the domestic corporations in certain area, such as IT or heavy industry, get beneficial with this agreement. On the other hand, as for the other industries like agriculture, livestock industry and film industry, the accord could bring about a heavy damage, while the profit Korea get would be relatively much more smaller. If the rulling party support the conformity just because they think cooperating with the USA tells, it is a dangerous myth. The concept that FTA can create a lot of jobopenings in Korea can be a misconception. This is because posing huge pressures by passing the ratification on the domestic industries could be more likely to lead to more serious damages on our economy rather than gains.

  30. (B) HSA permalink
    November 21, 2011 4:03 pm

    Before talking about whether the government should proceed to sign the FTA or not, a question about fairness raises up in my mind. I am concerned that if fairness throughout the agreement would stay the same, when even before setting the conditions, the Korean government agreed on four conditions on car exhaust fumes, beef imports, screenquarters, and medicine. Manyy citizens, including myself, worry about the consequences of signing such agreement and some of the concerns are as followed:
    First, signing the agreement will allow US to export more agricultural products which will decrease demand of our own. If the consume of US products keep to rise, many farmers in our country will lose the job and many of them will not even be able to support their basic needs of living. Canada signed the agreement 14 years ago, and approximately 30 million farmers have lost their jobs. Also, once we become dependant on the US products, the price of US products will incline which is exactly opposite of what the government assures now.
    Second, if we privatize the ownership of public institutions such as hospital, the price of medicine will increase enormously where our citizens will not be able to supply ourselves for needed medicine any more. Not only the medicine, but the field that the insurance now covers will not loger be covered either.
    Last, we might experience many benefits as the government says as the world is becoming more and moe globalized. However, it is also my concern that we, the citizens and Korea itself will become Amerinized. Also, most of the conditions of the agreement would only benefit the conglomerates which then would widen the gap between the rich and the poor. Mexico now has 31% of citizens facing poverty which is a lot more prior to signing the agreement.
    Overall, I believe the agreement is more benefitial to US. Looking at the ISD, we can for sure argue US has many more rights than Korea does. So I believe the Korean government should seek from the point of view of its citizens rather than for its own good.

  31. KoalaCoala permalink
    November 22, 2011 1:37 pm

    I highly approve FTA.
    The Republic of Korea’s economy is still depending on trade, especially those of trading with USA. Because USA is Korea’s largest trading associator. So if FTA is signed, a rate of economic growth will increase.
    And International Creditworthiness is going to be stronger than now by FTA, it will bring in foreign capital , it invigorates all industries as well.
    Furthermore FTA can make strengthen the alliance and relationship between Korea and USA.
    In spite of those advantages, there are some disadvantages.
    But synthetically FTA will make substantial profit between these two nation.

  32. (b)Puella permalink
    November 23, 2011 12:52 am

    FTA has various pros and cons. We may not know well details of FTA. If there were the conclusion of the FTA, we can buy tropical fruits such as cherry at lower prices. This results from a tariff removal by FTA. In addition, we can also get CK jeans and T-shirts of Tommy Hilfiger and etc. at lower prices. Choices of services by customer will be widen for markets of Law and Accounting services. We can consider various options as selecting a tax accountant or a accountant, a lawyer. Plus, we can encounter many America TV programs, dramas and so on. Therefore, a cultural life of Korea will be changed over all. But, There are many negative effects, too. Typically, it is a article called a ratchet. It means that we can’t restore or return, once it is open. Example, If the BSE were spread in Korea, we couldn’t prohibit the import of beef. It is the same In case of a plan for medical costs, electiricities, etc. And we must privatize public enterprises such as a electric, a gas and so on. Also, we have to abolish restrictions of foreign ownership. From this, prices will skyrocket. These parts make important parts of our life. We have both benefits and loses by FTA.

  33. jasmine permalink
    November 25, 2011 10:14 pm

    I think that FTA is not too bad as long as both parts are having a good benefits of it( which is always not bad at Economic point of view). It is a free exchange of US products and Korean products which consequently brings an interchange between Korean an American culture. In the other hand, there is a science issues, education and so on. In my opinion really do agree with it.

  34. December 14, 2011 11:22 pm

    I can not tell whether FTA is good or bad.I think we need to see as time goes by. Even the FTA’s opponents and supporters agree that FTA give Korea some changes in the way of globalization,economy and other factors.I’ m going to reserve judgment.

  35. Choi Jung An permalink
    December 16, 2011 1:55 am

    I think FTA in inevitable. Now even if it was not ratified, it will be agreed someday. But I’m not sure whether FTA is a good thing or bad thing. Perhaps my normal life is better because many American products’ price will be down and my options of daily goods become diversified. However many korean companies except major companies may face some difficulties such as decrease in sales. Also korean farmers will have problems because American crop is advantageous in price. In these reasons I can’t tell FTA is good or not. It’s a very complex problem.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: