What is the name of the trade agreement between the United States and South Korea?

The trade agreement between the United States and South Korea is the United States–Korea Free Trade Agreement, commonly called KORUS FTA.

Negotiations were announced in February 2006 and concluded in April 2007. The agreement was signed in 2007, substantially revised in 2010, approved by both countries in 2011, and entered into force in March 2012.

KORUS is a bilateral free-trade agreement: it links the United States with the Republic of Korea and sets rules for goods, services, investment, customs procedures, and other commercial issues. Its tariff commitments were designed to eliminate most duties over time.

The main mix-up is with NAFTA, now replaced by the United States–Mexico–Canada Agreement, which involves North American partners. The Trans-Pacific Partnership was a broader proposed regional pact, not the name of the U.S.–South Korea agreement. “KORUS” combines “Korea” and “United States.”