Prime Minister Han Duck-soo stressed in a statement Friday that the free trade agreement (FTA) between the United States and South Korea is the most crucial step ahead for the country to join the ranks of advanced countries.
On the same day, the government submitted a bill on the deal to the National Assembly for approval.
The Assembly will endorse the bill if more than a majority of lawmakers who participate in the regular session vote for ratification.
The prospects for parliamentary approval of the South Korea-U.S. free trade agreement still look foggy.
Many people, including farmers and workers, staged rallies against the agreement calling the deal an unequal one.
Volatile election politics and differences among political parties also make the situation difficult to predict, however, it is almost certain that the free trade deal will be passed by South Korea’s National Assembly by the end of this year.
South Korea and the United States signed the free trade agreement on June 30, among strong opposition from the South Korean general public and the Democrat-controlled U.S. Congress. The trade pact must still be ratified by the legislatures of both nations, but if approved, would be the largest such deal for South Korea.
On the same day, the government submitted a bill on the deal to the National Assembly for approval.
The Assembly will endorse the bill if more than a majority of lawmakers who participate in the regular session vote for ratification.
The prospects for parliamentary approval of the South Korea-U.S. free trade agreement still look foggy.
Many people, including farmers and workers, staged rallies against the agreement calling the deal an unequal one.
Volatile election politics and differences among political parties also make the situation difficult to predict, however, it is almost certain that the free trade deal will be passed by South Korea’s National Assembly by the end of this year.
South Korea and the United States signed the free trade agreement on June 30, among strong opposition from the South Korean general public and the Democrat-controlled U.S. Congress. The trade pact must still be ratified by the legislatures of both nations, but if approved, would be the largest such deal for South Korea.
Jo Tae-Guen
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