South Korea reactions United States–Korea Free Trade Agreement

as in united states, fta proves highly divisive issue in korea. opposition arguments tend focus on perceived disparities in agreement public opinion. advocates tend focus on economic predictions.

opponents

the korea rural economic institute predicts u.s. agricultural exports south korea, $2.8 billion, double after fta, causing loss of 130,000 jobs.
citizens groups worried transparency, environment , labor standards deal deficient agreed on behind closed doors. south korean government, example, has not allowed open, public debate fta s impact on nation s economy , sovereignty. korean advertising broadcasting agency blocked running of advertisement produced farmers protesting deal. should fta become law after undemocratic process , in spite of mass popular opposition, fta drive perception in south korea america s democratic rhetoric merely cover profit-seeking behavior , korean americans fair trade said.
baek il, professor of commercial distribution studies @ ulsan college, protested against free trade agreement destruction of south korean domestic manufacturing industry in 2006 , in 2011.
several massive protests against fta have taken place in country. nationwide protest on november 22, 2006, reportedly drew 65,000 80,000 people, 9,000 20,000 of them gathering @ city hall in seoul. protester named heo se-uk set himself on fire sunday shouting stop korea-u.s. fta outside hotel negotiators meeting. being treated third-degree burns, police said. overall opinion of population has fluctuated on time , difficult gauge.
other polls indicated majority opposed agreement, including 83% no confidence rating in government s ability negotiate agreement. lee myung-bak administration has taken considerable political heat part in advancing fta, did previous roh moo-hyun administration. president lee had endure months of protests on decision reopen american beef imports, decision made eye towards securing american support fta.
agriculture in south korea expected adversely affected, , $119 billion in aid south korean farmers has been announced on next ten years offset effects of finalized agreement.
fifteen anti-korus fta university students arrested in front of blue house fountain on december 10, 2011.
around 100 people work domestic beef industry protested against lee myung-bak government in jeonju on january 5, 2012, authorities alleged abandon south korean farmers in favor of american beef.

advocates

south korean public companies receive opportunities privatization.
the korea institute international economic policy estimates exports united states rise 12% per year, or $5.4 billion, , grow 15% in longer run.
proponents of fta cite create more jobs ones destroyed, , be, on long term, beneficial country.
business groups welcomed news south korea concluded free trade agreement u.s. business leaders stressed importance of smoothly implementing next steps, including ratifying agreement in national assembly of south korea.
lee hee-beom, chairman of korea international trade association (kita) declared our country s first step in endeavor join group of advanced economies , adding government should work out measures compensate might suffer market opening , continue restructuring process. national assembly should ratify fta possible negotiations show results quickly. similar statements made federation of korean industries: successful conclusion of fta talks u.s. momentum, agreement upgrade traditional alliance united states higher level, , our enterprises advance .
the korea chamber of commerce , industry said, should view fta broad standpoint of promoting national interests rather interests of specific industries or groups .
the free trade agreement expected increase growth rate of south korean gdp 0.6% per year next 10 years. south korean government cite increased foreign direct investment in korea , heightened competition.
the trade accord knock down tariff , non-tariff barriers between world s largest , 11th-largest economies, did us$74 billion in two-way trade in 2006.




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