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   11-06-2009 11:31
US Urges Seoul to Open Car Market

The top U.S. trade official Thursday linked the fate of a long-stalled U.S.-South Korean free trade agreement to Seoul's willingness to open its automobile market to American car makers, The Associated Press reported.

U.S. Trade Representative Ron Kirk told the U.S.-Korea Business Council in a speech that the ambitious trade deal could lead to American exports to South Korea rising by as much as $11 billion a year.

He said, however, that negotiators must deal ``with the legacy of Korea's long-closed market, especially with respect to autos,'' according to AP.

``Our market is open to Korean autos,'' Kirk said. ``All we are asking for is for our own auto companies to be able to compete on a level playing field in the Korean market.''

The two countries signed an accord in 2007 to slash tariffs and other barriers to trade, but the deal has since languished and has yet to be ratified by lawmakers.

A big worry in the U.S. Congress has been about South Korea's large surpluses in auto trade, especially as American auto companies suffer financially.

South Korea, one of Asia's leading economies, has said the deal stands, even as the Obama administration conducts a review of the Bush administration agreement.

Kirk said trade officials are developing proposals that deal with U.S. worries about auto trade. ``We believe that a level field is possible and within reach,'' Kirk said.

South Korea and the U.S. posted $84.8 billion in bilateral trade in 2008, making Washington South Korea's fourth-biggest trading partner after China, the European Union and Japan.

Reader's Comments
Notice From KT Website Manager
Bad language will not be tolerated. All comments considered discriminatory against race or sex, or which are considered offensive against certain people, will be eliminated by the manager. Violators will be deprived of their membership.
Please stay on topic.
Jacques   (125.245.211.197)   11-09-2009 11:49
Camry is more expensive than Sonata. Quality - well who knows. Camry is more powerful as standard. Toyota looks pretty cool on Korean roads simply because they are rarer than most luxury European brands. I can't say that I like the new Sonata's look very much - I think Hyundai lost the plot a little there.
zeth06   (69.235.135.190)   11-08-2009 03:39
Workhard, I agree with you that people want something new. But the Camry is actually roughly $8,000 more. That may be pennies to some. Regardless my belief the price is so high is that yen/won valuation is prohibitively high.
jimbo1a   (203.117.33.5)   11-07-2009 20:47
BTW, Derrick David T., why do you use Davie instead of Derrick, your God given Christian name? Why do you bash America, but still petition it's universities and try to get false degress? You are a POS, and you are busted.
jimbo1a   (203.117.33.24)   11-07-2009 20:46
12up, I told you the idiot Thiessen would not do a thing and try to blame it on you. Hey, Derrick Thiessen. 12up did answer your question about AI. He told you they were not involved. If you weren't such a fat lazy POS you could have made a phone call. You had no intention of helping anyone, and you fooled no one with your BS. This is why Stacy took the kids from you and had you deported Derrick.
jimbo1a   (203.117.33.24)   11-07-2009 20:43
Hey Johntoe, sorry, not that much business yet, but stay tuned. I will be in Bangalore at the end of the month.
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