Implementation of the Framework Agreement. 1. The AEM + Korea shall have the ultimate authority concerning all matters relating to the implementation of this Framework Agreement and any other agreements concluded or to be concluded in accordance with this Framework Agreement. An Implementing Committee, which is hereby established to be composed of the senior economic officials of the Parties or their designees, shall convene as appropriate to discharge such functions as provided for in paragraph 2 under the supervision and guidance of the AEM + Korea.
2. The Parties, through the Implementing Committee, shall:
(a) coordinate, supervise and oversee the implementation and appropriate application of the provisions of this Framework Agreement and any other agreements concluded or to be concluded in accordance with this Framework Agreement;
(b) review the implementation of this Framework Agreement and any other agreements concluded or to be concluded in accordance with this Framework Agreement;
(c) supervise the work of the committees and working groups established under this Framework Agreement and any other agreements concluded or to be concluded in accordance with this Framework Agreement; and
(d) consider any other matter that may affect the operation of this Framework Agreement and any other agreements concluded or to be concluded in accordance with this Framework Agreement, or that is entrusted to the Implementing Committee by the Parties.
3. In the fulfilment of its functions, the Implementing Committee may:
(a) establish and delegate responsibilities to ad hoc or standing committees, working groups or expert groups and assign them with tasks on specific matters; and
(b) take such other action in the exercise of its functions, as the Parties may agree.
4. The Implementing Committee shall keep the AEM + Korea informed of its activities on a regular basis.
5. The Implementing Committee shall establish its rules and procedures, which shall be approved by the AEM + Korea.
6. The Implementing Committee shall convene within one year of the date of entry into force of this Framework Agreement and then annually or otherwise as appropriate.
Implementation of the Framework Agreement. 3.2.1 The Parties agree to establish a working group of senior representatives to implement this Agreement collaboratively.
3.2.2 The Parties agree to establish a schedule of meetings on a quarterly basis.
