Section 1 Short title
This Act may be cited as the “Korea Security Partnership Act”.
Korea Security Partnership Act
A BILL
To provide for the eligibility of the Republic of Korea for the license exception for encryption commodities, software and technology under the Export Administration Regulations.
Sec. 2 Eligibility of Republic of Korea for license exception for encryption commodities, software and technology under the Export Administration Regulations
Finding— Congress finds that the Republic of Korea has adopted high standards in the field of export controls, and that it is a member of all four multilateral export control regimes: the Australia Group, the Missile Technology Control Regime, the Nuclear Suppliers Group, and the Wassenaar Arrangement.
License exception— Effective beginning on the date that is 180 days after the date of the enactment of this Act, the Republic of Korea shall be deemed to be a country listed in Supplement No. 3 to part 740 of title 15, Code of Federal Regulations (relating to license exception for encryption commodities, software and technology (ENC) favorable treatment countries), or any successor to such Supplement, for purposes of carrying out part 740 of title 15, Code of Federal Regulations.