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[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 934 Introduced in House (IH)]

111th CONGRESS
  1st Session
H. RES. 934

Calling on the Government of the Republic of Korea to end unfair trade 
    practices as such practices relate to the automotive industry, 
  expressing the sense of the House of Representatives that it should 
take into account such unfair trade practices of the Republic of Korea 
  when the House of Representatives considers the United States-Korea 
             Free Trade Agreement, and for other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           November 19, 2009

 Mr. Dingell submitted the following resolution; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                               RESOLUTION

 
Calling on the Government of the Republic of Korea to end unfair trade 
    practices as such practices relate to the automotive industry, 
  expressing the sense of the House of Representatives that it should 
take into account such unfair trade practices of the Republic of Korea 
  when the House of Representatives considers the United States-Korea 
             Free Trade Agreement, and for other purposes.

Whereas the Organization for Economic Cooperation and Development (OECD) 
        estimates the Republic of Korea's automobile import rate to be 3.6 
        percent, the lowest of the 30 members of the OECD;
Whereas the market share of foreign automobile manufacturers in the Republic of 
        Korea has decreased from 5.3 percent in 2008 to 4.5 percent in the first 
        seven months of 2009;
Whereas the Republic of Korea's recently instituted vehicle fleet modernization 
        program has perpetuated the discriminatory treatment faced by foreign 
        automakers in the Republic of Korea and coincides with the decline in 
        their market share there;
Whereas vehicles manufactured by Korean manufacturers ranked among the 10 best-
        selling vehicles in the United States Consumer Assistance to Recycle and 
        Save (CARS) program;
Whereas the Republic of Korea exports more than 70 percent of its total auto 
        production to the United States and the rest of the world;
Whereas in 2008, the Republic of Korea exported 616,000 cars and light trucks to 
        the United States but imported just 10,377 cars and light trucks from 
        the United States;
Whereas 78 percent of the United States 2008 deficit with the Republic of Korea, 
        which amounted to $13,400,000,000, is constituted by trade in 
        automobiles, trucks, and parts;
Whereas the current draft of the United States-Korea Free Trade Agreement has 
        not been amended to include the March 7, 2007, Congressional Auto Caucus 
        proposal, which will ensure fair access to the Republic of Korea's 
        automobile market by United States manufacturers;
Whereas, in an October 5, 2009, Financial Times article, Ahn Byung-chan, 
        director-general of the Bank of Korea, was quoted as saying, ``If the 
        symptoms behind the trend [of won appreciation] do not improve, we will 
        come up with necessary measures with the government,'' thereby implying 
        the intent of the Government of the Republic of Korea to engage in 
        currency manipulation;
Whereas, an October 12, 2009, Bloomberg article reported the Government of the 
        Republic of Korea would ``take steps to stabilize the drastic won 
        movements stemming from herd behavior,'' thus underlining its recent 
        actions to halt the rise of the Korean won relative to the United States 
        dollar; and
Whereas continued intervention by the Republic of Korea in foreign exchange 
        markets to halt the rise in value of the Korean won will likely result 
        in further market share gains by Korean manufacturers in the United 
        States automobile market: Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) calls on the Government of the Republic of Korea to end 
        unfair trade practices as such practices relate to the 
        automotive industry;
            (2) should take into account the unfair trade practices of 
        the Republic of Korea as such practices relate to the 
        automotive industry when the House of Representatives considers 
        the United States-Korea Free Trade Agreement; and
            (3) demands that the United States-Korea Free Trade 
        Agreement be amended to include the March 7, 2007, 
        Congressional Auto Caucus proposal to ensure fair access to the 
        Republic of Korea's automobile market by United States 
        manufacturers.
                                 <all>
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