We are confident that the authorities will fully comply with the regulations and standards of treaties governing cross border investment activities in Korea and the investigations will be conducted in a professional manner befitting the 10th largest economy in the world.

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We want this to create a more open, transparent, consistent and predictable environment. Industries like autos and pharmaceuticals have had challenges here with previous agreements not being honored. This will make improvements in those areas.

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As for the U.S. government, it should go through a three-month deliberation period and get an approval from Congress before the negotiation process can begin. So the three-month period is not negotiable.

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