U.S. President Barack Obama, left, and President Lee Myung-bak, right, with their top officials and translators, enjoy an unofficial dinner at Woo Lae Oak, a Korean restaurant, in Vienna, Virginia, Wednesday, as the U.S. Congress ratified the Korea-U.S. FTA.Joint Press Corps
Following the U.S. Congress’s speedy ratification Wednesday of the long-pending free trade agreement between the United States and Korea, the onus is on the National Assembly to follow suit. And while the Lee Myung-bak administration and the ruling Grand National Party pledged to approve the FTA by the end of this month, the path will be bumpy as liberal lawmakers still oppose it.
The U.S. Congress on Wednesday approved the trade deal with Korea, along with similar agreements with Colombia and Panama, only nine days after President Barack Obama submitted them. The pacts will be signed into law by Obama.
The Korea-U.S. FTA, the biggest U.S. trade pact since the North American FTA that took effect in 1994, was first concluded in 2007 and renegotiated late last year.
The passage came as President Lee was having a dinner with Obama on the eve of their summit in Washington. At the unofficial dinner at a Korean restaurant named Woo Lae Oak, Obama received confirmation of the ratification on his Blackberry and congratulated Lee, Park Jeong-ha, presidential spokesman, said. Lee replied that it was a tribute to Obama’s leadership, Park said.
The two leaders had 110 minutes of candid conversation during the dinner, accompanied by some of their top officials, according to the Blue House.
The Senate voted 83-15 to approve the Korea-U.S. FTA and the House 278-151.
According to the Blue House, the speedy passage almost set a record as it took only five working days for the ratification. In 2004, the U.S.-Morocco FTA was also approved in five days.
The congressional passage came on the eve of Lee’s speech at a joint session of Congress. In a meeting with American businessmen earlier Wednesday, Lee once again promoted the FTA by saying it will create jobs in both countries.
“This trip is not about talking about a new issue,” said a senior Blue House official. “It is about upgrading the two countries’ alliance by reconfirming the military alliance’s future and expanding the economic alliance with the approval of the FTA. We are to celebrate this multifaceted global alliance and discuss how to develop it further.”
The official said Lee’s congressional speech will mention the importance of the FTA along with other issues. The summit with Obama on Thursday in Washington, as well as their visit to an auto plant in Michigan on Friday, will also highlight the two countries’ expanded economic ties.
In the Korean legislature, response to the U.S. ratification split along partisan lines. Representatives of the ruling and opposition parties and the government held a consultation yesterday morning to discuss how to handle Korea’s own ratification, but no agreement on the legislative schedule was reached.
While Grand National Party floor leader Representative Hwang Woo-yea demanded that the trade deal should be approved “as soon as possible,” his Democratic Party counterpart Representative Kim Jin-pyo insisted that modifications should be made to the FTA to protect Korean industry further. In July, the Democrats presented what they called a “10 plus 2” measure, with 10 points to be renegotiated and two measures to compensate manufacturers and service industries for losses in the future, and the DP continued to insist yesterday on those demands.
The ratification motion for the FTA is currently pending at the National Assembly’s Foreign Affairs, Trade and Unification Committee.
“We cannot delay the voting indefinitely,” said Representative Nam Kyung-phil, the committee chairman and a Grand National, adding that he believes a comprise is possible.
The Grand Nationals hold 168 seats in the 295-member National Assembly, enough to approve the FTA on their own. But the Democrats have warned that they will try to stop the GNP from railroading the motion through, vowing to use force if necessary. Violent melees in the legislature when the majority party tries to pass bills, although commonplace, have become increasingly unpopular with the public. Both the violent minority and the majority party - which is blamed for not negotiating with its opposition - get public blame.
The GNP leadership has made clear that it wants the FTA to be approved before the end of this month. “We should review the pact at the committee until next Monday and pass it Tuesday,” GNP Representative Yoo Ki-june, a member of the committee, was quoted as saying by Yonhap News Agency. A main session is scheduled to take place on Oct. 28, and the GNP sources said they will attempt a floor vote that day.
While the wrangling over the FTA continues in the National Assembly, the Ministry of Foreign Affairs and Trade issued a statement urging lawmakers to approve the deal. “The administration expects a speedy approval of the FTA so that it can take effect on Jan. 1, 2012,” the statement said.