KORUS FTA negotiation concluded on April 2, 2007

The one-year and 2-months of negotiation for the Korea-US FTA (KORUS FTA) was concluded on April 2, 2007.

KORUS FTA negotiation started with the United States’ FTA template as the first draft. The US has template FTA texts and prefers to use the templates as the starting point for FTA negotiation.

Before the KORUS FTA, the US has negotiated and concluded 8 FTA’s. The US FTA templates have evolved through the history of FTA negotiation. The US used the up-to-date FTA template as the basis for negotiation.

Korea is the largest in GDP among the countries that the US made FTA’s with. KORUS FTA is the most comprehensive FTA ever in the history of FTA’s.

In the IPR Chapter, the US made the most aggressive demands, which required amendment of Korea’s domestic legislation. On the other hand, the US never accepted a provision that may have the slightest possibility of requiring US’s domestic legal change.

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