Minister for Trade Kim Hyun-chong has indicated there is a chance South Korea and the U.S. may not come to an agreement on amending their free trade agreement(FTA) even though talks are lined up on revising the deal.
Kim made the remark Friday during the National Assembly’s inspection of the Ministry of Trade, Industry and Energy. When asked by a ruling party lawmaker about whether the trade pact could be scrapped if the U.S. makes unacceptable demands, he said it is one of many possibilities.
Kim explained the government has been preparing for the negotiations with all outcomes in mind, including the U.S.’ unilateral abandonment of the FTA.
The minister said Seoul came to believe that Washington could possibly seek to withdraw from it considering its recent actions with the Trans-Pacific Partnership and UNESCO.