South Korea postpones signing of the GSMIA with Japan; South Korean President hopeful about the prospects of the proposed South Korea-Colombia FTA
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  • (JUNE 25- JULY 1)

    According to reports, the General Security of Military Information Agreement that was to be signed between Japan and South Korea on June 29, 2012, could not be inked due to Seoul’s decision to postpone it. Although the cabinet approved plans to sign the agreement, it created great concerns recently within the political arena of South Korea. The GSMIA, if implemented, would allow the two countries to share information on various issues, including those regarding search and rescue missions as well as North Korea-related intelligence. 1

    In another development, according to reports, during his recent three-day long visit to Colombia, South Korean President Lee Myung-bak hoped that the proposed FTA between the countries would increase the bilateral trade five times than the current level in the next five years. Both the countries launched the talks on the FTA in 2009 and it is at the final stage of negotiation. Lee’s Colombia visit however has been considered significant as it is the first visit by a South Korean President to Colombia which allied with the South during the 1950-53 Korean War. 2