1. On February 21, 2012 (Tuesday, Seoul local time), ROK’s Deputy Minister for FTA Choi Seok-young and Assistant U.S. Trade Representative Wendy Cutler met in Seattle and exchanged letters confirming the lists of their domestic laws, regulations, and other measures to implement the Korea-U.S. Free Trade Agreement (KORUS FTA).

2. With this exchange of letters, the KORUS FTA implementation-related consultations have been completed, which began last year upon the ratification by the legislative bodies of the countries on November 22, 2011 in the ROK and October 12, 2011 in the US. The KORUS FTA will enter into force on March 15, 2012 as agreed on by the exchange of diplomatic notes on February 21.

                                     Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation