The Korea-U.S. Free Commerce Settlement (FTA) Joint Committee assembly, which Korea and america had been pursuing as a follow-up measure to tariff negotiations, has been postponed to early subsequent 12 months because of U.S. dissatisfaction with Korea’s push for digital-related rules, based on U.S. media stories.
In response to Politico, a U.S. political media outlet, on Dec. 19 (native time), the U.S. Commerce Consultant (USTR) canceled the closed-door FTA Joint Committee assembly that was scheduled for yesterday.
Citing three sources, the report attributed the cancellation to “Seoul’s (Korea’s) pursuit of digital proposals that the Donald Trump administration deems discriminatory.”
One supply mentioned, “The U.S. administration believes Korea just isn’t protecting its guarantees on a number of precedence points, together with the digital sector.”
One other supply instructed Politico that the assembly was postponed to early subsequent 12 months because of “a number of views and variations of opinion” relating to digital coverage, and that the postponement displays each side’ acknowledgment that one assembly wouldn’t present adequate time to resolve these variations.
The digital rules Korea is pursuing that concern america seem like legislative efforts such because the On-line Platform Act geared toward stopping monopolistic abuses by huge tech corporations.
The On-line Platform Act, which can be a marketing campaign promise of President Lee Jae-myung, faces opposition not solely from the U.S. enterprise group but additionally from Congress.
If, because the Politico report suggests, the USTR abruptly canceled the assembly citing Korea’s push for digital rules as the explanation, this could point out that even the Trump administration is becoming a member of in pressuring Korea.
Beforehand, when the European Union (EU) lately imposed a fantastic of 120 million euros (roughly 205.9 billion gained) on X based mostly on the Digital Companies Act (DSA) and launched investigations into Meta Platform, Google, and Apple, focusing on U.S. huge tech corporations, the USTR warned of “corresponding measures” on Dec.16 and acknowledged that it could “take the same method to different nations pursuing EU-style methods.”
Nevertheless, it’s understood that the Korean authorities’s place is that this postponement of the FTA Joint Committee was agreed upon throughout the technique of coordinating agendas between Korea and the U.S. prematurely.
Earlier, Yeo Han-gu, chief negotiator of the Ministry of Commerce, Trade and Sources’ Commerce Negotiation Headquarters, mentioned at a press briefing on Dec. 17 (Korea time), “We initially deliberate to carry it inside this 12 months, however each side thought we wanted extra time for detailed features, so we’re discussing the schedule for early subsequent 12 months and constructively discussing the detailed elements.”
In the meantime, relating to some stories that the USTR’s postponement of the FTA Joint Committee was because of Korea’s strain on Coupang, a U.S.-listed firm, an official educated about this matter instructed Yonhap Information, “The choice to postpone the Korea-U.S. FTA Joint Committee throughout negotiations with the USTR is unrelated to the latest Coupang info leak incident.”
Coupang, the highest home e-commerce market firm, lately confronted authorities investigation and police inquiry following a large-scale leak incident, and the Nationwide Meeting’s Committee on Science, ICT, Broadcasting and Communications summoned Coupang executives on Dec. 2 to severely criticize their insufficient response to the leak scenario.
