You are here

The U.S.–Korea Trade Agreement (KORUS)

The U.S.–Korea Trade Agreement (KORUS)

Monday,  4 April 2011

Jose Fernandez, Assistant Secretary for Economic, Energy, and Business Affairs, U.S. Department of State. Fernandez spoke on the importance and mutual benefits of the U.S. – Korea Free Trade Agreement (KORUS). Fernandez started by noting that the 2010 KORUS renegotiations were put in place to ensure that U.S. companies can compete in a fair and free method and to provide everyone with greater transparency to the agreement. Although the KORUS was first signed between the United States at the Republic of Korea (South Korea) on June 30, 2007, it cannot take effect until it gains U.S. Congressional approval in the House and the Senate. To prevent a ratification stalemate from occurring again, the team responsible for the KORUS consulted different stakeholders, adjusted terms, and went back to the table with South Korea to discuss controversial issues. By November 2010, the United States was able to create a pact that was not only winning bipartisan support but was also a more advantageous deal for automakers. Fernandez urged the United States to quickly ratify the KORUS and show that it can compete in the global market. Charles K. Armstrong, Professor of Modern East Asian and International History in the Department of History and Director of the Center for Korean Research at Columbia University, moderated the event.

This event was co-sponsored with the Weatherhead East Asian Institute’s Center for Korean Research at Columbia University.

Contact Us

APEC Study Center at Columbia University
Columbia University, 3022 Broadway
2M-9 Uris Hall
New York, NY 10027-7004
212-854-3976

The Curl Ideas to wrap your mind around

5 Key Concepts For Every Chief Operating Officer

Alexander Tuff '03 discusses five key concepts every Chief Operating Officer should know.

Read More >

Startups for a Better World

More and more alumni entrepreneurs are launching ventures to serve the greater good.

Read More >

Columbia Business School Professor Predicts How Changes in Banking Laws Could Fuel Emerging Economies of Tomorrow

New research tracks emerging countries’ economics activity after law changes and finds a boost in access to credit; increase in employment rate; increase in productivity and sales for firms

Read More >

Power Isn't Enough: Study Reveals the Missing Link for Effective Leadership

New research from Columbia Business School shows that powerful leaders fail to listen properly and take others’ accounts into perspective, jeopardizing the impact they could have

Read More >

How Can You Be Entrepreneurial in Any Organization?

Vince Ponzo '03 demystifies the entrepreneurial mindset.

Read More >

Why China's Bubble Won't Burst

Fundamentals that aren't going away give China a shot at sustained high growth for the foreseeable future.

Read More >

Modi's Five Waves of Change

Each wave has the potential to boost India's GDP by at least a half percentage point, says Adil Zainulbhai, chairman of the new Quality Council of India.

Read More >

The Age of Vulnerability

In the United States, upward mobility is more myth than reality, says Nobel laureate Joseph E. Stiglitz. Downward mobility and vulnerability, however, is a widely shared experience.

Read More >

Angel Investing: The New Alternative Asset

Carefully selected and managed portfolios of personal angel investments can produce an average annual return of more than 25 percent.

Read More >