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(LEAD) Pence says Washington will 'reform' FTA with S. Korea

All News 10:18 April 18, 2017

(ATTN: CHANGES headline; ADDS Pence's comments in last 2 paras)

SEOUL, April 18 (Yonhap) -- U.S. Vice President Mike Pence said Tuesday that Washington will review and reform the free trade agreement with South Korea, citing too many barriers to U.S. businesses.

The visiting vice president made the remarks during an American Chamber of Commerce meeting in Seoul. South Korea and the United States enforced the so-called KORUS FTA in 2012.

"Most concerning is the fact that the U.S. trade deficit with South Korea has more than doubled since the KORUS came into effect. That's the hard truth," Pence told the meeting.

"Our businesses continue to face too many barriers of entry... We are reviewing all of our trade agreements across the world to ensure they benefit our economy as much as they benefit our trading partners... the U.S. and people of South Korea we will work toward that end to reform KORUS in the days ahead," he added.


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