In light of my skepticism, I’ll post potential gains from the Korea-US PTA as I become aware of them. One area that could benefit from liberalization: film.

A quota system that helps protect the South Korean film industry from giant Hollywood studios was under close scrutiny Friday amid reports that South Korea and the United States may start talks on a free trade agreement in mid-February. The so-called screen quota system is considered a key barrier to South Korea’s much-awaited hope of sealing a bi-lateral investment treaty with Washington.

Under the system, set up in 1966 to protect the local film industry, South Korean movie theaters are required to show local films for 146 days a year. The U. S. government, following intense lobbying from Hollywood, has demanded South Korea scrap or reduce its protective quota if Seoul wants to ink such an investment treaty with the superpower. [Yonhap, 21-Jan-06]

Please post a comment if you can identify other potential gains.