KORUS FTA Awaits Ratification in National Assembly

The government submitted a bill to ratify the KORUS FTA to the National Assembly on September 7.

Before submitting, Prime Minister Han Duck-soo said in a statement made in the Central Government Complex that the FTA will help Korea join the ranks of the world’s advanced countries. He also asked for a rapid ratification of the FTA.

He added, “The KORUS FTA needs to be ratified as soon as possible and let our people and businesses enjoy the benefit from concluding an FTA with the U.S. prior to neighboring countries.”

The bill will first be reviewed by the Assembly’s Committee on Unification, Foreign Affairs, and Trade, and will be put to a vote in the plenary session. The FTA will be ratified if half of the registered members show up in the session and the majority vote for the bill.

leon@donga.com