Final KORUS FTA battle looms at National Assembly

[rpannier]

Grand National Party (GNP) Chairman Hong Joon-pyo said his party plans to pass a ratification motion for the South Korea-United States Free Trade Agreement (KORUS FTA) within the month of October at all costs.

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The National Assembly Foreign Affairs, Trade and Unification Committee held a general meeting Tuesday under GNP leadership and unsuccessfully attempted to pass the KORUS FTA ratification and additional legislation, including trade procedure laws. Six Democratic Labor Party lawmakers, including Chairwoman Lee Jung-hee, and Democratic Party Lawmaker Chung Dong-young occupied the committee chair’s seat for 90 minutes before members from both sides of the aisle agreed to hold a final discussion on Oct. 20 and 21 and adjourned the meeting.

The DP held an emergency general meeting of lawmakers, where three preconditions were set for passage the ratification, namely protections on small merchants and neighborhood commercial districts and recognition of goods originating from the Kaesong Industrial Complex as made in South Korea, budget and legislative support for measures to preserve industries harmed by the FTA, and establishment of a trade procedure law.

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At a general lawmakers’ policy meeting Tuesday, the DP set a platform of pushing for stronger legislation on trade pact procedures and domestic implementation. It plans to enact the trade procedure law prior to the KORUS FTA ratification and clearly state that the Constitution takes precedence over the agreement, while working to neutralize toxic provisions.

The legislation in question states that trade pacts cannot violate economic sovereignty and rights permitted by international norms and provides detailed measures for resolving any clashes that may arise. In particular, the supplementary provisions clearly state that this would apply to the KORUS FTA that has been signed but not yet promulgated.

Additionally, it specifies that the government must disclose trade information to the South Korean public in a timely and transparent manner and that it cannot refuse to do so for reasons of pledges with the other party, a third country, or an international organization, international practice, or the conducting of trade negotiations at the time in question.

link:
http://english.hani.co.kr/arti/english_edition/e_business/501431.html