Korea-U.S. FTA

Not on Wednesday

This AP story says that the current session of the National Assembly runs until January 8, that the police were not sent in to the Assembly hall on Wednesday, and that negotiations between the GNP and protesting legislators began again Wednesday evening: Tensions high at sit-in:

On Tuesday, assembly speaker Kim Hyong-o, a former member of the ruling party, threatened to send guards into the chambers to haul the legislators out.

On Wednesday evening, rival party leaders agreed to resume negotiations on a compromise in the new year, averting a New Year's Eve blowup.

But unconvinced legislators continued to camp out at the National Assembly. As the rest of Seoul prepared to celebrate the New Year at parties across the capital, the protesting lawmakers dug in with their laptops, bottled water and takeout food.

Will the Korean National Assembly Ratify KORUS FTA Wednesday?

On December 18, majority party legislators (members of the Grand National Party - GNP) moved the trade agreement bill through the Foreign Affairs committee: Adventures in legislation - the National Assembly takes up the FTA.  Opposition legislators were locked out of the committee meeting and attacked the doors of the meeting room.

Adventures in legislation - the National Assembly takes up the FTA

The National Assembly has taken up the trade agreement with the U.S.

Fighting the FTA in the National Assembly

Lawmakers from several National Assembly opposition parties have formed an emergency committee to oppose the trade agreement: Opposition lawmakers fight FTA ratification:

Pressure the U.S. by signing with the E.U.

Suh Jin-kyo, Director of trade and investment policy at the Korea Institute for International Economic Policy, says Korea should complete its trade agreement negotiations with the E.U. to put pressure on the U.S. (Proposal Made to Implement FTA With EU Ahead of US):

Compromise in Korea?

Korean President Lee Myung-bak is still hoping to see the trade agreement ratified this year: Lee Firm on Ratification of U.S. FTA This Year.  But he's looking for ways to address some opposition party concerns:

Sounds like the GNP is backing off

Yonhap: S Korean Ruling Party Backtracks Over Early US Fta Ratification

Early passage of a free trade pact with the United States looked increasingly unlikely here Wednesday as the ruling party slackened its push in the face of a chorus of opposition from rival parties.

Roh comes out in favor of renegotiation

The trade agreement was negotiated by Former South Korean President Roh Moo-hyun.  Roh has just published an article calling for renegotiation: Roh comes out in support of FTA renegotiation; Roh shifts stance on Korea-U.S. FTA; Roh should keep out of the FTA debate.

Is National Assembly FTA action imminent? Or not?

On Monday: National Assembly to Mull Korea-U.S. FTA:

The ruling Grand National Party on Monday decided to submit a motion for ratification of the Korea-U.S. free trade agreement to the National Assembly Foreign Affairs, Trade and Unification Committee as soon as the committee finishes a public hearing on the FTA deal on Wednesday. The two sides of the house are therefore expected to clash, as the main opposition Democratic Party has already said it will block the motion.

The Grand National Party (GNP) has 172 of the 299 seats in the unicameral national legislature).

But on Tuesday: GNP Rules out railroading FTA ratification:

The governing Grand National Party (GNP) stepped back Tuesday from its plan to pass the Korea-U.S. free trade agreement (KORUS FTA) unilaterally, vowing to make further efforts in drawing bipartisan consensus for the ratification.

The Korea-U.S. FTA Task Force

The government and the ruling Grand National Party (GNP) have followed up on their decision Friday to push forward with the FTA, and created a "Korea-U.S. FTA Task Force." 

The purpose appears to be to coordinate efforts for ratification in the National Assembly in November, and to lobby for ratification this year in the U.S.: GNP Pushes for Korea-U.S. FTA Ratification Within This Year: