Lee vows renegotiation of key clause in US FTA

Opposition party to make decision on president’s proposal today

By Kang Hyun-kyung

President Lee Myung-bak offered Tuesday to seek renegotiation of a key clause in the free trade agreement with the United States (KORUS FTA) after the trade accord takes effect.

The surprise proposal came during Lee’s rare meeting with parliamentary leaders at the National Assembly with the apparent goal of finding a breakthrough to the long-stalled KORUS FTA.

Lee proposed that lawmakers ratify the deal first and the government will ask the U.S. for renegotiation of the controversial investor-state dispute settlement (ISD) provision within three months after ratification.

The trade deal has been deadlocked in the National Assembly as the opposition parties have been demanding a revision of the ISD clause, which they claim favors the U.S.side.

If the pact gets the nod from lawmakers, Lee was quoted as saying he will request Washington to sit down for a renegotiation of the provision.

The spokespersons of the ruling Grand National Party (GNP) and the main opposition Democratic Party (DP) unveiled Lee’s fresh proposal after the President had the rare face-to-face at the Assembly.

DP lawmakers will hold a meeting today to decide whether they will accept Lee’s proposal or not.

DP spokesman Lee Yong-sup told reporters that President Lee conveyed his determination to take full responsibility for the renegotiation.

“Lee underscored the word responsibility when asked how he will react if the United States does not respond to his call for renegotiation,” he said.

Lee met with speaker Park Hee-tae and chairmen and floor leaders of the GNP and the DP in the National Assembly.

During the meeting, DP Chairman Sohn Hak-kyu reiterated his party’s position that the ISD clause should be removed from the pact.

DP leaders previously rejected the call to meet the President. The DP said Chairman Sohn and floor leader Kim Jin-pyo decided to change their position for fear that they could be seen as rude if they rejected Lee’s request to have frank talks on the trade agreement.

Earlier, the DP chairman demanded Lee come up with concessions over the ISD provision, saying if he came to parliament empty-handed, he would also leave with nothing in his hands.

Delivering their worries over the accord, DP hardliners showed few signs of softening their opposition to the pact.

But moderate liberals and conservatives have stepped up joint efforts to move the ratification forward.

Six lawmakers, three each from the conservative GNP and the liberal DP, sat down together Tuesday with the aim of narrowing their differences over touchy issues between the two camps.

Joining the “3+3 meeting” were GNP lawmaker Hong Jung-wook and DP legislator Kim Sung-gon. The meeting signaled the commencement of the operation of the bipartisan body.

During the first gathering, the six agreed to hold a meeting again after Lee’s visit to the Assembly to persuade opposition lawmakers to cooperate in the trade motion.

Last week, another moderate bipartisan group, dubbed the Concerned Eight, issued a joint statement calling for a bipartisan agreement on the touchy ISD issue that has caused a rift between the ruling and opposition parties.

They called on their fellow lawmakers to sign up for the statement to facilitate the ratification of the trade pact without clashes.

In related news, Rep. Jeong Tae-keun of the GNP has been staging a hunger strike since Sunday to protest the DP’s position.