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Aug 22, 2012

National Trade Commission of Korea on Korea-EU FTA Damage to Korean Companies

The National Trade Commission of Korea has awarded damages to a Korean pork processor for injury it has sustained as the result of the Korea-EU FTA.  The pork processor will, now, be able to receive Korea government support.  Hopefully, the support will be used to lower the price of Korean pork and not just pad the coffers of the processor.

Prior to the implementation of the Korea-EU FTA, Korea pork has a near 85% market share.  Today, the share stands at around 70% and is expected to further decrease.  Three other cases have been filed to the National Trade Commission.
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SeanHayes@ipglegal.com IPG is engaged in projects for companies and entrepreneurs doing business in Bangladesh, Cambodia, China, Korea, Laos, Myanmar, the Philippines, Vietnam and the U.S. www.ipglegal.com