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"Tough times on trade The trade environment is worsening for Korea. For at least a decade, Korea has been warned it may hit a bottleneck on the trade front if its economy trails the United States and Japan in technology and China starts to outpace it in terms of production capacity and low cost. A prolonged global slowdown has added protectionism to the equation. Washington has recently turned suspicious and hostile towards Seoul and Korean companies. U.S. Ambassador Mark Lippert says Korea is not complying with its commitments in the bilateral free trade agreement with the U.S. and demanded further liberalization in the legal and medical services markets. U.S. Treasury Secretary Jack Lew arrived in Seoul and will be meeting with his Korean counterpart Yoo Il-ho. He is expected to bring up the fact that Korea was placed on a monitoring list for unfair foreign exchange rate policies and demand more endeavors from Seoul authorities to fix the trade surplus with the U.S.", english.yonhapnews.co.kr
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