{
  "id": "R41534",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "R41534",
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  "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department",
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      "id": 394417,
      "date": "2011-12-01",
      "retrieved": "2016-04-07T00:26:59.434536",
      "title": "The EU-South Korea Free Trade Agreement and Its Implications for the United States",
      "summary": "On October 6, 2010, the 27-member European Union (EU) and South Korea signed a bilateral free trade agreement (FTA). The South Korean National Assembly and the EU Parliament have ratified the agreement. The agreement went into effect on July 1, 2011. The South Korea-EU FTA (KOREU FTA) is the largest FTA in terms of market size that South Korea has entered into. The KOREU FTA reflects the EU and South Korean trade strategies to use FTAs to strengthen economic ties outside their home regions. It also builds upon the surge in trade and investment flows between South Korea and the EU over the past decade. On October 12, 2011, both houses of Congress passed implementing legislation for the U.S.-South Korea FTA (KORUS FTA), which the President signed into law (P.L. 112-41) on October 21. The KORUS FTA is expected to enter into force in early 2012.\nThe KOREU FTA is very comprehensive. It would reduce and eliminate tariffs and other trade barriers in manufactured goods, agricultural products, and services and would also cover such trade-related activities as government procurement, intellectual property rights, labor rights, and environmental issues. \nMost studies done on the potential impact of the KOREU FTA estimate that the agreement will have a small but positive effect on the economies of the EU and South Korea as a whole and that the larger relative impact would be on the South Korean economy. The greatest economic impact of the KOREU FTA would be on specific sectors in each economy. EU services providers would be expected to experience gains from the agreement, especially in the areas of retail and wholesale trade, transportation services, financial services, and business services. In terms of trade in goods, EU exporters of pharmaceuticals, auto parts, industrial machinery, electronics parts, and some agricultural goods and processed foods would be expected to gain from the KOREU FTA\u2019s implementation. At the same time, South Korean manufacturers of cars, ships, wireless telecommunications devices, chemical products, and imaging equipment would be expected to increase their exports to the EU market.\nThe KOREU FTA is similar to the KORUS FTA in many respects. Both agreements are comprehensive and both would eliminate tariffs on most trade in goods soon after they enter into force. However, they differ in other respects. Phase-out periods for tariffs on some manufactured goods differ. In addition, the KOREU FTA does not cover investment protection. Unlike the KORUS FTA, the KOREU FTA does not allow trade sanctions to be applied where violations of the workers\u2019 rights and environment provisions have been deemed to occur. In addition, the KORUS FTA covers a broader range of trade in services than does the KOREU FTA. It is not clear whether these differences in the structures of the FTAs result in appreciable differences in outcomes in terms of economic gains and losses.",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc83951/",
      "id": "R41534_2011Aug16",
      "date": "2011-08-16",
      "retrieved": "2012-04-27T15:49:45",
      "title": "The EU-South Korea Free Trade Agreement and Its Implications for the United States",
      "summary": "This report is designed to shed some light on the KOREU FTA for Congress.4 It briefly reviews EU-South Korean economic ties and the respective EU and South Korean objectives regarding the KOREU FTA. It then discusses the KOREU FTA in general and examines some of its major provisions in more detail, with special focus on autos and some other manufacturing sectors, agriculture, services, and labor-areas of particular interest to U.S. policymakers and the U.S. business community. The report does not attempt to determine if one FTA is better than the other. Finally, the report analyzes the prospects for the KOREU FTA and the agreement's potential implications for the United States.",
      "type": "CRS Report",
      "typeId": "REPORT",
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      "topics": [
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          "source": "LIV",
          "id": "Trade",
          "name": "Trade"
        },
        {
          "source": "LIV",
          "id": "International trade",
          "name": "International trade"
        },
        {
          "source": "LIV",
          "id": "Foreign relations - South Korea - U.S.",
          "name": "Foreign relations - South Korea - U.S."
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          "id": "Foreign economic relations - U.S. - South Korea",
          "name": "Foreign economic relations - U.S. - South Korea"
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc93851/",
      "id": "R41534_2011Jun16",
      "date": "2011-06-16",
      "retrieved": "2012-07-24T12:39:36",
      "title": "The EU-South Korea Free Trade Agreement and Its Implications for the United States",
      "summary": "This report discusses the free trade agreement (FTA) between South Korea and the European Union (EU).  It looks at various aspects of the South Korea-EU FTA (KOREU FTA) including economic ties, trade strategies, and an overview of the key provisions of the agreement focusing on manufactured goods, agriculture, services, and various other provisions of particular interest to U.S. policymakers and the U.S. business community.  The report also gives an analysis of the potential economic imact of the KOREU FTA and potential implications of the agreement for the United States.",
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      "topics": [
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          "source": "LIV",
          "id": "Trade",
          "name": "Trade"
        },
        {
          "source": "LIV",
          "id": "International trade",
          "name": "International trade"
        },
        {
          "source": "LIV",
          "id": "Foreign relations -- South Korea -- U.S.",
          "name": "Foreign relations -- South Korea -- U.S."
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        {
          "source": "LIV",
          "id": "Foreign economic relations -- U.S. -- South Korea",
          "name": "Foreign economic relations -- U.S. -- South Korea"
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          "id": "Foreign trade policy",
          "name": "Foreign trade policy"
        },
        {
          "source": "KWD",
          "id": "European Union",
          "name": "European Union"
        }
      ]
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc805970/",
      "id": "R41534_2011May03",
      "date": "2011-05-03",
      "retrieved": "2016-03-19T13:57:26",
      "title": "The EU-South Korea Free Trade Agreement and Its Implications for the United States",
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491225/",
      "id": "R41534_2011Jan05",
      "date": "2011-01-05",
      "retrieved": "2015-01-27T19:40:46",
      "title": "The EU-South Korea Free Trade Agreement and Its Implications for the United States",
      "summary": "This report discusses the free trade agreement (FTA) between South Korea and the European Union (EU). It looks at various aspects of the South Korea-EU FTA (KOREU FTA) including economic ties, trade strategies, and an overview of the key provisions of the agreement focusing on manufactured goods, agriculture, services, and various other provisions of particular interest to U.S. policymakers and the U.S. business community. The report also gives an analysis of the potential economic impact of the KOREU FTA and potential implications of the agreement for the United States.",
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      "topics": [
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          "source": "LIV",
          "id": "Foreign policy",
          "name": "Foreign policy"
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        {
          "source": "LIV",
          "id": "Foreign trade policy",
          "name": "Foreign trade policy"
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        {
          "source": "LIV",
          "id": "Foreign economic relations -- U.S. -- South Korea",
          "name": "Foreign economic relations -- U.S. -- South Korea"
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        {
          "source": "LIV",
          "id": "Foreign relations -- South Korea -- U.S.",
          "name": "Foreign relations -- South Korea -- U.S."
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    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491521/",
      "id": "R41534_2010Dec17",
      "date": "2010-12-17",
      "retrieved": "2015-01-27T19:40:46",
      "title": "The EU-South Korea Free Trade Agreement and Its Implications for the United States",
      "summary": "This report discusses the free trade agreement (FTA) between South Korea and the European Union (EU). It looks at various aspects of the South Korea-EU FTA (KOREU FTA) including economic ties, trade strategies, and an overview of the key provisions of the agreement focusing on manufactured goods, agriculture, services, and various other provisions of particular interest to U.S. policymakers and the U.S. business community. The report also gives an analysis of the potential economic impact of the KOREU FTA and potential implications of the agreement for the United States.",
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          "id": "Foreign policy",
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          "source": "LIV",
          "id": "Foreign relations -- South Korea -- U.S.",
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  "topics": [
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