The U.S. Chamber of Commerce has submitted an opinion letter to the U.S. Trade Representative (USTR), arguing that South Korea’s trade practices are unfair. The Chamber claims that American CEOs are often subjected to prosecution, travel bans, imprisonment, or deportation for regulatory violations, and that Korean regulations are frequently introduced without sufficient notice, creating a ‘non-tariff barrier’ for foreign companies. The Chamber also raised concerns about Korea’s pricing of patented pharmaceuticals and medical devices, and its intellectual property policies. Meanwhile, the Coalition of Services Industries (CSI) has also submitted an opinion letter to the USTR, claiming that despite the Korea-U.S. Free Trade Agreement, significant obstacles remain for American service sector companies in Korea, including discriminatory legislation against American companies and an ‘uneven playing field’ against Chinese e-commerce firms.
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Auto-posted at: 2025-03-21 21:01:07