Proposed U.S.-South Korea Free Trade Agreement (KORUS FTA): Provisions and Implications [August 9, 2011] [open pdf - 572KB]
"If implemented, the proposed U.S.-South Korea Free Trade Agreement (KORUS FTA), signed on June 30, 2007, would be the second-largest U.S. FTA (next to NAFTA). South Korea is the seventh-largest trading partner of the United States, and the United States is South Korea's third largest trading partner. The proposed KORUS FTA covers a wide range of trade and investment issues and, therefore, could have substantial economic implications for both the United States and South Korea. The agreement will not enter into force unless Congress approves implementation legislation."
CRS Report for Congress, RL34330