Amb. Han calls for ratification of Korea FTA by mid-2010

By Hwang Doo-hyong
WASHINGTON, Nov. 4 (Yonhap) -- South Korean ambassador Han Duck-soo Wednesday
called on Congress to approve the pending Korea FTA by next summer, fearing any
failure to do so will push the ratification back to after 2011 owing to
by-elections late next year.

Speaking to a forum at the Department of Commerce, Han said that Congress has "a
short window of opportunity" for the ratification of the Korea FTA signed in June
2007.
Han was repeating a view made last week, when he urged the Barack Obama
administration to submit the Korea FTA to Congress early next year.
"I hope the Obama administration will complete the health care reform this fall
and pursue the Korea FTA's ratification as the top priority task next spring,"
Han said at that time. "Otherwise, the FTA's ratification might be delayed to
after the mid-term elections in November in 2010."
South Korean and U.S. lawmakers have not yet ratified the KORUS FTA, the largest
for the U.S. since the North American Free Trade Agreement that went into effect
in 1994.
While meeting with South Korean President Lee Myung-bak in June, U.S. President
Barack Obama agreed to make efforts to "chart a way forward," and said he will
seek the appropriate "political timing" for the submission of the KORUS FTA to
Congress "once we have resolved some of the substantive issues."
Congressional Democrats are concerned about a backlash from trade unions, a
political power base for the party, as fears mount over job losses amid the worst
recession in decades.
U.S. officials have expressed concerns about an imbalance in auto trade and
restricted shipments of U.S. beef, saying they favor side agreements to address
the issues rather than revising the text of the deal itself.
Wendy Cutler, assistant U.S. Trade Representative, said last month that the Obama
administration will try to address an imbalance in auto trade before presenting
the FTA with South Korea to Congress.
"It's apparent that more can be done and should be done in the automotive sector
to help level the playing field for U.S. companies and workers in this important
sector," Cutler said.
Han, for his part, said the FTA's ratification will serve as an economic stimulus
for the U.S.
"We need a bolder and creative resolution because we are running out of time and
opportunities," he said, claiming that the FTA's approval will create 240,000 new
jobs for the U.S. and increase U.S. gross domestic product by up to US$11
billion.
South Korea is the seventh-largest trading partner of the U.S., with trade in
goods reaching US$83 billion in 2008 and trade in services reaching $19 billion
in 2007.
hdh@yna.co.kr
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