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| Controversial points of South Korea-U.S. free trade agreement |
Number : 50 |
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Date :2013-05-22 |
Read : 4070 |
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(ATTN: more to follow)
SEOUL, May 25 (Yonhap) -- South Korea publicized on Friday the full text of its free trade agreement with the United States, with the move expected to further fuel criticism of the deal.
The following are some controversial points of the agreement that were posted on the Web site of the Ministry of Foreign Affairs and Trade.
Automobiles
_ South Korea and the U.S. agreed to immediately eliminate tariffs on imported cars with engine displacements of less than 3,000 cc.
_ Both sides agreed on a so-called "snap-back" system, which allows one of the two sides to withdraw the tariff-elimination measure if one party keeps its restrictions that materially affect sales, purchases and distribution.
Textiles
_ Under the agreement, the U.S. is allowed to exercise safeguard measures against South Korean textiles and clothes. The safeguard measures will be sustained for as many as 20 years after the pact comes into force.
North Korean industrial park
_ South Korea wants the U.S. to recognize goods made at an inter-Korean industrial park in North Korea as originating from South Korea. In principle, the deal raised the possibility of giving special tariff treatment to goods made in the Kaesong industrial complex.
_ The two sides agreed to establish an "outward processing committee on the Korean peninsula" to discuss the Kaesong matter later.
_ However, the deal requires goods made outside South Korea to follow international labor standards, a measure expected to dim the prospects for the North Korean industrial complex.
Intellectual property rights
_ To strengthen law enforcement measures on intellectual property rights concerning U.S. films, South Korea agreed to legally punish any person who attempts to record a movie at a theater using a video camera.
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