WSJ Says Protests Test Pres. Lee’s Economic Policy

The Wall Street Journal said in an op-ed piece yesterday that candlelight vigils against U.S. beef imports are forcing President Lee Myung-bak to decide whether to keep pushing ahead with his economic liberalization policy.

In the piece “Testing President Lee,” the daily said the resumption of U.S. beef imports is an issue of high interest for legislators who postponed ratification of the Korea-U.S. free trade agreement.

President Lee has strongly pressed ahead with the resumption of U.S. beef imports because he believes the deal is essential to revitalize the sluggish Korean economy, but his approval rating has plunged from about 70 percent to 20 percent because of his stance, the Journal said.

Opposition parties have failed to win public support even in this situation, the piece said, saying the protests could mask broader support for the free trade agreement.

The Journal also said Lee will be unable to deliver on his campaign pledges of economic reform and building stronger ties with the United States if he falters now.

will71@donga.com