P.M. BRIEFING : Seoul to Drop Barriers on 120 Items
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SEOUL — South Korea will remove non-tariff import barriers for more than 120 items next month to help slash its trade surplus with the United States, government officials said today.
They said economic ministers had agreed to abolish regulations requiring government approval for imports of 113 raw materials for pharmaceuticals, four medical devices and seven marine products by the end of February. Seoul officials, who fear Washington might choose South Korea as an early target of tough new U.S. trade legislation, have said they will try to cut the surplus from $8.5 billion in 1988 to $6.5 billion this year.
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