HOW KOREAN CARMAKERS HAVE CAPITALIZED ON THE EU-SOUTH KOREA FTA
July 1st, 2013
WHILE the European Union’s (EU) auto sector is happy to see its trade imbalance with South Korea decreasing two years into the controversial free trade agreement (FTA) linking these two vehicle-making powerhouses, European car makers complain that they are still struggling to access the South Korean market.“Because of loopholes in the automotive annex of the agreement, the Korean authorities have proven reluctant to dismantle non-tariff barriers to trade, have introduced new ones, and have failed to deliver their promised regulatory convergence,” Cara ...
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