KOTRA (Korea Trade-Investment Promotion Agency) is a non-profit, governmental agency of Republic of Korea committed to promoting international trade and investment. KOTRA Los Angeles as part of KOTRA’s worldwide network of over 100 offices in 70 countries, offers a wide variety of initiatives to support U.S. clients.
Invest Korea (IK), Korea’s national investment promotion agency, was established within the Korea Trade-Investment Promotion Agency (KOTRA) with the sole purpose of supporting the entry and successful establishment of foreign business into Korea.
Global Talent Recruitment offers comprehensive HR services ranging from identifying to securing global manpower to turn Korea into a human resources powerhouse.
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Benefits of the US-Korea Trade Agreement
Also on March 15, almost two-thirds of U.S. exports of agricultural products to Korea will become duty-free, including wheat, corn, soybeans for crushing, whey for feed use, hides and skins, cotton, cherries, pistachios, almonds, orange juice, grape juice, and wine.
The agreement also includes a number of significant commitments related to non-tariff measures that will also come into force on March 15, including obligations related to motor vehicle safety and environmental standards, enhanced regulatory transparency, standard-setting, technology neutrality, and customs administration. Strengthened protections for intellectual property rights benefiting American creators and innovators will also come into force on that day. Finally, commitments opening up Korea’s $580 billion services market will also be in effect beginning March 15.
United States Trade Representative
In December 2010, President Obama announced the successful resolution of outstanding issues with the U.S.-Korea trade agreement, setting the stage for the ratification of an agreement estimated to support 70,000 American jobs from increased goods exports alone, with additional jobs potential from the further opening of Korea’s large services market to American firms, and other measures.
The U.S.-Korea trade agreement’s implementing bill, approved by Congress in October 2011, authorizes the President to exchange notes with Korea providing for the entry into force at such time as the President determines that Korea has taken measures necessary to comply with provisions of the agreement that are to take effect on the date of the entry into force.