P.M. BRIEFING : Korea Curbs U.S. Access to Market

Trade-Industry Minister Han Seung Soo said today that South Korea cannot open up its market any further to agricultural and fishery products despite the threat that the United States will target South Korea as a nation guilty of unfair trade practices.

Han told a news conference that during his just-concluded, one-week trip to Washington he made it clear to U.S. officials that import liberalization of 243 farm and fishery products announced April 8 is the most South Korea can do at this stage.

“There is room for concessions on other issues, such as easing restrictions on direct foreign investment, but market opening for farm and fishery products cannot be a subject of negotiations any more,” Han said.

“I don’t see much chance of Korea avoiding designation as a priority foreign country for trade negotiations” because of unfair trading practices, he said. “Even if we are named as one, no more concessions will be made as far as that area is concerned.”