KAC is a non-profit community organization that is interested in all U.S. legislation that empowers Korean Americans. We have a special opportunity to help solidify U.S. and South Korea relations. In the next few months, the KORUS FTA (Korea-United States Free Trade Agreement) will be presented in Congress for an Up/Down, Yes or No vote. 

Through the KORUS FTA, both countries benefit economically. Deputy U.S. Trade Representative Karan Bhatia stated in his testimony, “Studies have estimated that the potential income gains to the U.S. economy from a KORUS FTA range from $17 billion to $43 billion.” The gains to the South Korean economy from the KORUS FTA range from $25 billion to $32 billion. 

Yet the benefits of the KORUS FTA stretch beyond the economic ones.  The reinforced relationship between the two allies will also aid impending foreign policy issues, such as the North Korea situation.

Today, barriers such as tariffs and quotas limit the amount of trade between the two countries by artificially increasing the price of imports.  Once the KORUS FTA eliminates many of these obstructions, trade between the two countries will undoubtedly increase as more industries open up for fair competition. 

This act of globalization will lead to increased efficiency as American and Korean companies compete with each other to produce the cheapest and the best product. Additionally, the rise in trade between the two countries will vitalize both economies.

Currently, there are a few members of Congress who oppose the KORUS FTA because of two main issues: Korea’s discouragement of foreign auto imports and the negative effect the KORUS FTA will have upon some groups of laborers. 

The KORUS FTA is not perfect, but it addresses and solves many of the trade problems both countries have struggled with in the past. KAC’s goal is to inform members of the Congress about the long term benefits of the KORUS FTA so that it is approved. 

In the process of any negotiation, both parties must make sacrifices. In regards to the Korus FTA, both countries must make sacrifices in order to reap the overall benefits of expanded trade. KAC hopes to educate members of the United States Congress of the overarching benefits of the KORUS FTA, which are indeed greater than the sacrifices.

Another legislative matter that KAC is advocating for includes HR 121.  This bill urges the Japanese government to issue an official apology to sex slaves imprisoned during World War II, who were euphemistically referred to as “comfort women.” We have collaborated with the HR 121 coalition to push this bill through Congress. This is an ongoing effort that KAC will strive to pass.

 

CAPTION;NATIONAL?OFFICE

Chairman: David L. Kim

Executive Director: Charles Kim

3727 W. Sixth St., Ste. 501

Los Angeles, CA  90020

Tel: 213.385.5226

Fax: 213.385.5282

www.kacnational.org

 

Los Angeles Chapter