ID :
191413
Tue, 06/28/2011 - 03:17
Auther :
Shortlink :
http://m.oananews.org//node/191413
The shortlink copeid
Crippled KORUS FTA : Opposition must join in ratifying deal
The ratification of the Korea-U.S. Free Trade Agreement (FTA) at the National Assembly has found itself in an uncharted waters as the leader of the opposition demanded its renegotiation.
In a rare meeting Monday with President Lee Myung-bak, Sohn Hak-kyu, chairman of the largest opposition Democratic Party, made it clear that his party would boycott the ratification. He said the ratification will be possible only when the deal becomes at least equitable to Seoul and Washington and not disadvantageous to Korea through a renegotiation.
He was apparently referring to a revision of the original contract, allowing more favorable access of American cars to Korea. He rebuffed President Lee???s bipartisan support for the ratification.
His position has both merits and drawbacks. It hurt the pride of Koreans for the original contract to undergo a revision. The DP says its survey shows that the party would have little to lose by opposing the deal. Koreans are equally divided over the issue.
The DP is also trying to divert Washington???s likely demand for the opening of the beef market following the ratification.
Despite its rationale, the opposition is mired in its own fallacies. People call in doubt a consistency in the policies of the liberal party. It was the party which initiated the KORUS FTA under the Roh Moo-hyun administration. It changed its mind after it became the opposition party. A party inconsistent in policies lacks soul and, therefore, might alienate even its own supporters.
It is illogical for Korea to ratify the Korea-EU FTA while keeping the Korea-U.S. deal on the back burner. A political party will have little chance of producing a successful presidential candidate if it looks inward to erect high barriers.
Korea cannot survive without trade. This year, the nation???s exports and imports will reach $1 trillion. It is a historic milestone, indicating a victory for Korea???s open trading system.
Any ruling party and any presidential candidate opposing the FTA will face an image problem overseas. This will ultimately make foreigners think again about investing here.
It is difficult to quantify which country will benefit from the FTA. It is questionable to conclude that the renegotiation has made the FTA in Korea???s disfavor. It is doubtful whether the U.S. will accept Seoul???s call for renegotiation. Even if Washington does accept the request for a revision, it may take years to arrive at a conclusion.
To increase the possibility of a ratification, President Barack Obama should pledge that the United States will not ask Seoul to open its beef market wider than it is now. Even without the additional opening, Korea is one of the biggest importers of American beef. Especially following the culling of more than 3.5 million cows and pigs infected with the foot-and-mouth disease, Korea has no choice but to rely on imported beef.
Demanding additional opening of the market will worsen public sentiment, especially among cattle farmers. It is a politically sensitive issue ahead of the crucial elections next year.
In a rare meeting Monday with President Lee Myung-bak, Sohn Hak-kyu, chairman of the largest opposition Democratic Party, made it clear that his party would boycott the ratification. He said the ratification will be possible only when the deal becomes at least equitable to Seoul and Washington and not disadvantageous to Korea through a renegotiation.
He was apparently referring to a revision of the original contract, allowing more favorable access of American cars to Korea. He rebuffed President Lee???s bipartisan support for the ratification.
His position has both merits and drawbacks. It hurt the pride of Koreans for the original contract to undergo a revision. The DP says its survey shows that the party would have little to lose by opposing the deal. Koreans are equally divided over the issue.
The DP is also trying to divert Washington???s likely demand for the opening of the beef market following the ratification.
Despite its rationale, the opposition is mired in its own fallacies. People call in doubt a consistency in the policies of the liberal party. It was the party which initiated the KORUS FTA under the Roh Moo-hyun administration. It changed its mind after it became the opposition party. A party inconsistent in policies lacks soul and, therefore, might alienate even its own supporters.
It is illogical for Korea to ratify the Korea-EU FTA while keeping the Korea-U.S. deal on the back burner. A political party will have little chance of producing a successful presidential candidate if it looks inward to erect high barriers.
Korea cannot survive without trade. This year, the nation???s exports and imports will reach $1 trillion. It is a historic milestone, indicating a victory for Korea???s open trading system.
Any ruling party and any presidential candidate opposing the FTA will face an image problem overseas. This will ultimately make foreigners think again about investing here.
It is difficult to quantify which country will benefit from the FTA. It is questionable to conclude that the renegotiation has made the FTA in Korea???s disfavor. It is doubtful whether the U.S. will accept Seoul???s call for renegotiation. Even if Washington does accept the request for a revision, it may take years to arrive at a conclusion.
To increase the possibility of a ratification, President Barack Obama should pledge that the United States will not ask Seoul to open its beef market wider than it is now. Even without the additional opening, Korea is one of the biggest importers of American beef. Especially following the culling of more than 3.5 million cows and pigs infected with the foot-and-mouth disease, Korea has no choice but to rely on imported beef.
Demanding additional opening of the market will worsen public sentiment, especially among cattle farmers. It is a politically sensitive issue ahead of the crucial elections next year.
