Opposition parties call for renegotiation of Korea-US trade pact

By Park Sung-hee

Opposition parties reiterated Thursday that they want negotiators of South Korea and the United States to renegotiate their free trade agreement (FTA).

Floor leaders of the four parties, including the main opposition Democratic Party, said renegotiations were needed as there were “toxic clauses” that would undermine the interests of some industries.

They agreed to make efforts to influence the ruling-opposition party consultation body on the Korea-U.S. FTA to address their concerns.

Korea and the United States signed the bilateral trade deal in 2007. It was adjusted later at the request of the U.S. government.

The legislatures of the two countries have yet to ratify the deal.