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Posts Tagged ‘korean trade practices’

Ford Locks Horns With South Koreans

Maker takes aim at allegedly closed market.

by on Nov.05, 2010

Korean carmakers have a virtual lock on their home market, but is it due to unfair trade practices?

Ford Motor Co. is firing a series of broadsides at South Korea, accusing the Asian nation of keeping its market closed to foreign cars, even as it uses a free trade deal negotiated with the United States to expand auto sales here to record levels.

Korean representatives dismissed the allegations and pointed to a 2007 trade agreement between the two countries designed to offset past problems that kept the Korean car market virtually closed.

“For every 52 cars Korea ships here, the U.S. can only export one there,” blared a new website posted by Ford, at

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“We believe in free trade,” the website continued, “and this isn’t it,” it said, noting that only 5% of the currently cars sold in South Korea come from abroad.