At 11:00 a.m. on June 29, a special lecture for diplomatic and multinational corporate communities was held at the KDI School of Public Policy and Management. This lecture was designed to provide an understanding of FTAs and trade policies of the Korean Government. The special session was given by Prof. Dukgeun Ahn, Chair of the KDI School’s Master’s of Public Policy Program, and Associate Professor of International Trade Law and Policy. Professor Ahn covered some of the finer points of the Korea’s already established FTAs and also spoke on the future of certain pending agreements.
The event was preceded by an introduction to the KDI School by John Lee, Deputy Director of International Affairs. Mr. Lee explained about the mission and history of the KDI School, as well as how to gain admission in different programs. The event attracted approximately 50 attendees, with the guest list including embassy ambassadors, ministry counselors, corporate executives, as well as many other guests. Following the programs, participants dined together on a catered buffet while meeting one another and discussing relevant topics. “It was a great time to increase our understanding of FTAs and Trade Policy, while also meeting many people with the same backgrounds and interests,” an attendee said.
About Korea FTAs
A free trade agreement (FTA) is a legally binding agreement between 2 or more countries to bring about closer economic integration.
At the ASEAN-ROK Summit held in Indonesia in October 2003, Korean President Roh Moo Hyun proposed that ASEAN and Korea deepen their relations. President Roh mentioned the possibility of establishing a Free Trade Agreement to develop a comprehensive partnership between ASEAN and the ROK for the 21st century. An ASEAN-Korea Experts Group (AKEG) was formed and has submitted its report, recommending an ASEAN-Korea FTA at the AEM + ROK Summit in November 2004. At the Summit, leaders agreed that (i) negotiations for the AKFTA would commence in 2005 and be concluded within 2 years, (ii) that ASEAN-6 and Korea would eliminate tariffs up to 80% for all products by 2009. These initiatives would serve as key milestones in the realization of the AKFTA.