Lee says will seek ISD revision

 

(Yonhap News)

President tells opposition Seoul will ask U.S. to revise disputed FTA clause if Assembly passes bill


President Lee Myung-bak offered Tuesday to open a new round of negotiations with the U.S. on a set of controversial clauses in the Korea-U.S. free trade agreement, once the parliament ratifies the treaty.

Lee made the proposal to Rep. Sohn Hak-kyu, chairman of the main opposition Democratic Party, during a meeting with party leaders at the National Assembly.

“The president said he would make a request to the U.S. for renegotiations within three months after the deal takes effect, if the parliament ratifies the treaty and formally recommends the government to seek renegotiations on the Investor-State Disputes settlement clauses,” officials at the DP and the ruling Grand National Party said.

Rep. Sohn responded by saying: “Since the president made a new proposal, I will refer it to party members for opinion,” according to DP spokesperson Rep. Lee Yong-sub.

The DP will hold a gathering of its lawmakers Wednesday to discuss whether to accept the offer.

The ISD mechanism, part of all Korea’s FTAs, has been a key sticking point in parliamentary ratification.

The DP and other left-leaning groups demand the clauses be deleted from the agreement. They claim that the system would limit Korea’s policies for local industries, as it would allow American investors to challenge Korea’s policies for local industries at international courts.

Under the FTA agreement, a party is entitled to request renegotiations within three months of the treaty’s coming into effect and the other party is obliged to respond.

“I came here to show my commitment and determination to play a role in solving whatever problems there may be (in the proposed deal),” President Lee told attendants of the meeting.

“Today, I ask all of you to set aside party lines and just be patriotic,” he said.

During the meeting, also attended by National Assembly Speaker Park Hee-tae and ruling Grand National Party chairman Hong Joon-pyo, Lee stressed that the FTA would provide a much-needed boost to the local economy, which is facing a double whammy of a global market slump and sluggish domestic demand, his aides said.

Lee has visited the parliament four times since he took office in 2008 -― mostly to deliver speeches and attend ceremonies. It was the first visit on the president’s own initiative.

Legislators of the DP and other left-leaning parties have been blocking the treaty’s ratification, fearing the deal would do more harm than good to the local economy.

The Korea-U.S. FTA was signed in 2007 under the previous liberal administration of President Roh Moo-hyun. The Lee administration last year led a renegotiation of the deal at the request of the U.S. Liberals claim that the balance of interest swung in favor of the U.S. during the renegotiation.

Tuesday’s visit to the parliament was yet another pitch of Lee to have the treaty ratified, as the bill continues to languish at a parliamentary subcommittee amid resistance from opposition lawmakers. Previous efforts involved writing letters to all parliamentarians and inviting some party chiefs to Cheong Wa Dae to ask for their support.

Lee initially wanted to visit the Assembly last week, but had to postpone it to Tuesday after DP leaders refused to see him.

New moves were gaining ground among lawmakers across party lines, seeking to find a way out of the ongoing parliamentary impasse through dialogue.

A six-man committee, consisting of three legislators each from the GNP and the DP, was formed Tuesday, hoping to act as a bridge between the rival parties.

They issued a joint statement earlier this month, urging leaders of both parties to compromise. They said they oppose any attempt by the majority-holding GNP to unilaterally pass the FTA bill, as well as the use of physical means by opposition parties to block such a move.

GNP Rep. Hong Jung-wook, one of the six, said their views are being shared by a growing number of legislators. A total of 45 out of 169 GNP lawmakers expressed their support, he said.

Last week, about the same number of DP lawmakers joined a similar movement to urge its leaders to compromise. 

By Lee Sun-young (milaya@heraldm.com)