Seoul official denies speculation on renegotiation of KORUS FTA

BOAO, China, April 19 (Yonhap) -- South Korean Trade Minister Kim Jong-Hoon said
Sunday the United States has never asked for a renegotiation of the delayed
Korea-U.S. free trade agreement (KORUS FTA), and forecast progress will be made
on the pact in the second half of this year.

"I have never heard that the U.S. government has raised the need for a
renegotiation of KORUS FTA. The matter was not mentioned during the confirmation
hearing of new U.S. Trade Representative Ron Kirk," Kim said in an interview with
Yonhap News Agency on the sidelines of the Boao Forum for Asia Annual Conference
2009.
"The U.S. may be well aware that a renegotiation of the bilateral FTA is
impossible and a foolish thing to do. As (South Korean) President Lee Myung-bak
and U.S. President Barack Obama recently agreed in London to cooperate to move
forward on the KORUS FTA, we will likely see some concrete progress in the near
future," said the minister.
Kim said that specific measures will not be taken before the second half due to
the economic difficulties in the U.S. and ongoing restructuring at the USTR.
Seoul and Washington signed the free trade deal in June 2007 but it has yet to
obtain approval from the legislatures of either nation.
Kim stressed South Korea's parliament should act first to ratify the FTA bill,
paving the ground for the U.S. Congress to follow suit.
The trade minister also forecast that an FTA deal between South Korea and the
European Union will likely take effect in the first half of next year.
"South Korea and the EU held last-minute talks on their bilateral FTA in early
April but failed to narrow differences on some issues. But both sides will resume
talks in May, aiming to enforce the deal in the first half of 2010," said Kim.
ycm@yna.co.kr
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