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EazyMoney
LIMA (AFP) US President George W. Bush told South Korean President Lee Myung-Bak Saturday that a US-South Korea free trade deal has stalled in Washington due to an anti-trade "backlash," the White House said.

"The president did say that he doesn't think that the Congress is delaying because they have a negative feeling about South Koreans, but that there is a backlash against free trade," said spokeswoman Dana Perino.

Bush, meeting Lee on the sidelines of an Asia-Pacific summit in Peru's capital, said "he thinks we need to overcome it if we're going to overcome our economic challenges," the spokeswoman told reporters.

US president-elect Barack Obama, who takes office on January 20, has called the April 2007 deal "badly flawed" and charged it does too little to narrow a huge imbalance in the auto trade in Seoul's favor.

South Korea shipped about 700,000 cars to the US last year while importing 5,000 American cars, official figures show.

Neither legislature has ratified the pact, and Lee gave no sign of when South Korean lawmakers would act, said Dennis Wilder, senior director for Asian affairs on Bush's national security council.

"He did not make any particular commitment or statement on when the national assembly in Korea will take up the free trade agreement," Wilder told reporters.

The joint talks grouping Aso, Bush, and Lee carried "a strong theme of concern about the possibility of protectionism and protectionist barriers being thrown up in the middle of this financial crisis," said Perino
Chan-Ho
lol. Sure, and what about the US's auto trade imbalance with Japan which has got to be at least 5 times larger?
lluk
It's a shame, because the biggest customers of Hyundai and Kia in America are blacks and Mexicans. Obama sees his black people buy Korean cars but wish the Koreans reinvest money in the black ghettos. Maybe that is why he is after?
Chan-Ho
QUOTE(lluk @ Nov 23 2008, 10:19 PM) [snapback]4021781[/snapback]
It's a shame, because the biggest customers of Hyundai and Kia in America are blacks and Mexicans. Obama sees his black people buy Korean cars but wish the Koreans reinvest money in the black ghettos. Maybe that is why he is after?


uh... where do you get that idea? I don't think you can racialize car consumers in a market as big and diverse as the US's.
LuckyRice
As far as Protectionism goes, I don't think you can pin all the blame on one particular country. Very one realizes the value of free trade, but everyone comes to the bargaining table with the intention of protecting certain industries. The Japanese once claimed that no foreign made snow board and ski were usable on the special Japanese snow.

And plus, even if Protectionist Obama was able to open up the door for true free trading between the two countries on the matter of automobiles, I wouldn't go out on the street and celebrate just yet.

The koreans overwhelming purchase Korean made products in large number due to their out pour of nationalism. This is evident if you have ever been to a Korean's home.

Edit: I just realized that I cannot type the words J-aps without it being transformed to Japanese ...
baal
QUOTE(Chan-Ho @ Nov 23 2008, 09:46 PM) [snapback]4021762[/snapback]
lol. Sure, and what about the US's auto trade imbalance with Japan which has got to be at least 5 times larger?


Japan isn't seeking a FTA with our country. SK is.
choseunghuiisakoreangod
QUOTE(LuckyRice @ Nov 24 2008, 11:29 AM) [snapback]4022326[/snapback]
Edit: I just realized that I cannot type the words J-aps without it being transformed to Japanese ...


I found the same thing to when I try to type the word "c-hink" or "g-ook".

choseunghuiisakoreangod
QUOTE(LuckyRice @ Nov 24 2008, 11:29 AM) [snapback]4022326[/snapback]
Edit: I just realized that I cannot type the words J-aps without it being transformed to Japanese ...


I found the same thing to when I try to type the word "c-hink" or "g-ook".

FrenchVanillaNYC
QUOTE(Chan-Ho @ Nov 24 2008, 01:29 AM) [snapback]4021785[/snapback]
uh... where do you get that idea? I don't think you can racialize car consumers in a market as big and diverse as the US's.

Don't mind that. It's lluk. He's on some "other level". laugh.gif
Chan-Ho
QUOTE(baal @ Nov 24 2008, 09:10 AM) [snapback]4022357[/snapback]
Japan isn't seeking a FTA with our country. SK is.



True. But if the issue is about fair trade and helping the American auto industry, I don't think Korea should be the one to blame.
Captain Corea
QUOTE(LuckyRice @ Nov 24 2008, 11:29 AM) [snapback]4022326[/snapback]
The koreans overwhelming purchase Korean made products in large number due to their out pour of nationalism. This is evident if you have ever been to a Korean's home.


Are you serious? How many Korean homes have you been in (in Korea)? How many supermarkets? Department stores?

I've gotta say, while some may purchase Korean products out of a sense of nationalism, a great number purchase according to price (and avaliability).
Chan-Ho
QUOTE(LuckyRice @ Nov 24 2008, 08:29 AM) [snapback]4022326[/snapback]
As far as Protectionism goes, I don't think you can pin all the blame on one particular country. Very one realizes the value of free trade, but everyone comes to the bargaining table with the intention of protecting certain industries. The Japanese once claimed that no foreign made snow board and ski were usable on the special Japanese snow.

And plus, even if Protectionist Obama was able to open up the door for true free trading between the two countries on the matter of automobiles, I wouldn't go out on the street and celebrate just yet.

The koreans overwhelming purchase Korean made products in large number due to their out pour of nationalism. This is evident if you have ever been to a Korean's home.

Edit: I just realized that I cannot type the words J-aps without it being transformed to Japanese ...


Dude, you are making COMPLETELY BS assumptions. You've never been to enough Korean's homes to make such a statement. Keep your comments to yourself unless you have the grounds to back them up.\

I know plenty of Koreans who buy foreign products. Not everything about Koreans is about nationalism. Your view is extremely stereotypical and biased.
LuckyRice
QUOTE(Chan-Ho @ Nov 24 2008, 08:35 PM) [snapback]4022805[/snapback]
Dude, you are making COMPLETELY BS assumptions. You've never been to enough Korean's homes to make such a statement. Keep your comments to yourself unless you have the grounds to back them up.\

I know plenty of Koreans who buy foreign products. Not everything about Koreans is about nationalism. Your view is extremely stereotypical and biased.



First of all, I can't prove to you or anyone else how many Korean's home I have been to. Second of all, I never said that ALL Koreans go out and purchase the Korean made counterpart of whatever they wish to purchase when they out and go shopping, just a very large percentage of the population when they go out and purchase automobiles and electronics. Of course no citizen of any country will follow die hard national products, is just that the Koreans have the tendency to do this more than any other people that I have encountered. You cannot deny that fact that most Koreans drive hyundais or purchase samsung fridges over any other brand in large numbers.

As well, it is not like this topic will be mainstream anytime soon anyways, seeing as how all the US automakers are on the brink of extinction. The gas gazzlers will not fit the average korean's communal need anyways, as Gas is even more expensive in Korea as they import all their gas. Plus geographic reason limits them on the type of car they an purchase, not many of which are made in the US anyways, as the mountainous Korean road is unsuitable for the big US trucks and the like.
.
Kopan
They forced to liberalize our financial market and now this... these barbarians will never stop.
mrdata0101
QUOTE(LuckyRice @ Nov 25 2008, 12:55 PM) [snapback]4023596[/snapback]
First of all, I can't prove to you or anyone else how many Korean's home I have been to. Second of all, I never said that ALL Koreans go out and purchase the Korean made counterpart of whatever they wish to purchase when they out and go shopping, just a very large percentage of the population when they go out and purchase automobiles and electronics. Of course no citizen of any country will follow die hard national products, is just that the Koreans have the tendency to do this more than any other people that I have encountered. You cannot deny that fact that most Koreans drive hyundais or purchase samsung fridges over any other brand in large numbers.

As well, it is not like this topic will be mainstream anytime soon anyways, seeing as how all the US automakers are on the brink of extinction. The gas gazzlers will not fit the average korean's communal need anyways, as Gas is even more expensive in Korea as they import all their gas. Plus geographic reason limits them on the type of car they an purchase, not many of which are made in the US anyways, as the mountainous Korean road is unsuitable for the big US trucks and the like.
.


Take a look at the trade balance of Korea, Koreans do purchase more Japanese, Chinese and American goods than Japanese consumers.

I'm not sure about Hyundai products other than cars, but I do own Samsung fridge and LG TV. I've purchased these brands because they were cheaper than other brands and have good reputation of quality & warranty.

Frankly, I would have paid bit more for some Japanese brands, but I'm happy with my purchase for far.
DaeJang
No one wants to buy Americant made junk. Koreans cars superior. Why would any consumer buy American made cars is beyond me. They are more expensive and the quality isn't high besides cadillac and American v8 engine that isn't on the value conscious buyer of South Koreans.
doozer3
QUOTE(lluk @ Nov 24 2008, 01:19 AM) [snapback]4021781[/snapback]
It's a shame, because the biggest customers of Hyundai and Kia in America are blacks and Mexicans. Obama sees his black people buy Korean cars but wish the Koreans reinvest money in the black ghettos. Maybe that is why he is after?


Uhm, no.

QUOTE(LuckyRice @ Nov 24 2008, 11:29 AM) [snapback]4022326[/snapback]
And plus, even if Protectionist Obama was able to open up the door for true free trading between the two countries on the matter of automobiles, I wouldn't go out on the street and celebrate just yet.

The koreans overwhelming purchase Korean made products in large number due to their out pour of nationalism. This is evident if you have ever been to a Korean's home.


Obama isn't "protectionist" - he's fair trade.

And the huge imbalance w/ regard to the auto industry is mostly due to American manufacturers not producing the type of vehicles that Koreans want and the perceived lack of quality.

For instance, America is seen way more positively than Japan in Korea and yet, the largest importer of autos is a Japanese company, Honda.
simonsaysgerard
In Apkujeong there are a lot of import cars and basically people drive them as a status symbol of sorts.
It's funny. I never really understood what was so great about shelling out extra money for something that does exactly the same thing as something else which costs about half the price. I always understood that as poor spending.
Suijen
The American auto industry is taking a dirt nap. This will only stall the inevitable.
joolee
QUOTE
I never really understood what was so great about shelling out extra money for something that does exactly the same thing as something else which costs about half the price.

,
Double the money? Where are you getting that? A Honda Civic sold in Korea can be had for about 25 million Won, which, before this current financial crisis, cost about $25,000. Honda's sold in North America are built in North America, so they're a little bit cheaper in North America, plus Korea has a 8% tariff rate versus 2% in America. But that slightly higher tariff rate cancels out somewhat because Hyundais sold in Korea are as much as 25% more expensive in Korea, than sold in North America. There isn't a wide price gap as Americans would lead you to believe. American auto leaders and their politicians are still stuck in the 1980's when it comes to forming opinions on Korea.
simonsaysgerard
I always believed that car prices of imported cars in Korea were extremely high due to taxes put in place for protectionist purposes. But then again, I've never really felt the need to buy a car here (don't know how I'd do that... even for my cell phone I had to get my friend's help becuase you can't have one without a social security number which only South Korean citizens can get).
No, I don't doubt Korea's car quality in this day and age.
People in Apkujeong do drive extremely expensive cars that are imports though. I once saw an H2 (the civilian Hummer)... that must have put the guy back a fair bit!
That's interesting... how come Hyundais sell for a higher price in Korea than in the US? is it because of factory location?
joolee
Korea's import tax rate for auto is 8%. It's certainly higher than North America, but compared to Europe's 10%, it's not bad.
Another tax in Korea is the engine displacement tax. The bigger the engine, the higher the tax. This is tax law is used by the Korean government to tax the rich, discourage Koreans from buying large cars, gas guzzlers, and reduce the dependence on oil. As you can see for yourself on the streets of Korea, this hasn't stopped large cars being bought and sold - just the opposite. The Americans have always equated this as "unfair invisible tax barrier".

Taxes alone can't be the sole cause as to why American cars are doing poorly. There are many reasons like American companies are not bothered to concentrate on selling in small markets like Korea - they hardly have any after service and they don't make cars that Koreans want to drive. Another reason why imports in Korea are expensive - are price gouging by Korean middle man dealers. They jacked up the price and turning the imports into a luxury item while making huge profits. Over the last few years, the middle men have been gradually cut out, bringing down the prices to affordable levels. That's why the import car market share have all of a sudden exploded the last couple of years. Now that the Korean currency is devalued so much, the share of imports will decline drastically.


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