The Korea Herald

Ethiopian P.M. to visit Korea

Nov 23, 2011

Ethiopian Prime Minister Meles Zenawi will come here next week for a four-day official visit at the invitation of President Lee Myung-bak, Cheong Wa Dae said Wednesday.The two leaders will hold summit talks next Monday to discuss a wide range of issues including development cooperation, trade, education, cultural exchanges and peninsular security, the presidential office said.The Ethiopian leader is to arrive here on Monday and leave on Thursday. Lee’s invitation was made when he traveled to Eth
Lee to sign bill Tuesday, pledges review of all concerns

Nov 23, 2011

President Lee Myung-bak on Wednesday pledged to “exhaustively review” all issues regarding the Korea-U.S. Free Trade Agreement raised during parliamentary discussions.He also said that the government will pay particular attention to addressing concerns of farmers and mid- and small-sized business operators the expected to be affected by the pact.He made the remarks during a meeting with related ministers, a day after the National Assembly approved the long-pending agreement with the ruling Grand
Lee orders thorough follow-up measures after FTA approval

Nov 23, 2011

SEOUL, Nov. 23 (Yonhap) -- President Lee Myung-bak instructed the government on Wednesday to take thorough follow-up measures to make the best use of the just-ratified free trade agreement with the United States to boost the economy and minimize any damage to local small businesses.It was Lee's firs
GNP occupies National Assembly for FTA vote

Nov 22, 2011

Opposition parties berate the unilateral move, vowing to take strong actionRuling Grand National Party lawmakers on Tuesday occupied the main chamber of the National Assembly, setting the stage for a floor vote on the contentious Korea-U.S. free trade pact.All GNP members attended the plenary session with opposition party lawmakers upbraiding them for moving to railroad the pact, part of which they argue should be renegotiated to protect national interests.The GNP holds 169 seats out of a total
Korea-U.S. FTA chronology

Nov 22, 2011

Korea-U.S. FTA chronology2011　Nov. 22 -- The National Assembly ratifies the Korea-U.S. FTA June 3 -- The Ministry of Foreign Affairs and Trade resubmits the Korea-U.S. FTA bill to the National Assembly for ratification May 4 -- MOFAT withdraws the Korea-U.S. FTA bill from the Foreign Affairs, Trade & Unification Committee of the National Assembly Feb. 10 -- The signing and exchange of the agreed documents from the Dec. 3 renegotiation takes place 2010　Nov. 30~Dec. 3 -- Trade Ministers’ meeting i
Parliament passes Korea-U.S. FTA

Nov 22, 2011

GNP railroads ratification bill; opposition declares approval invalid, vows struggleThe National Assembly on Tuesday passed the long-pending Korea-U.S. free trade agreement, with the ruling Grand National Party pressing ahead with the ratification process despite vehement objection from opposition parties.Upbraiding the majority GNP and the government for “unilateral action,” the main opposition Democratic Party pledged to stage an “all-out struggle” to invalidate the pact, part of which it clai
DLP lawmarker fills chamber with tear gas in protest against FTA

Nov 22, 2011

The National Assembly passed the free trade agreement with the U.S. Tuesday as the main hall descended into chaos reminiscent of a protest movement, complete with tear gas. The long and tumultuous journey for the Korea-U.S. FTA came to an end after the ruling Grand National Party spearheaded the pact through parliament despite inhaling tear gas released when an opposition lawmaker detonated a grenade. At 4:05 p.m., roughly five minutes after an abrupt plenary session by ruling party members bega
‘Poison pills’ linger despite FTA passage

Nov 22, 2011

Despite the National Assembly’s approval of the Korea-U.S. free trade agreement, controversy over so-called “poison pills” in the FTA is expected to linger, observers said.Opposition party members, civic groups and critics have repeatedly demanded the Korean government renegotiate with the U.S. to remove the Investor-State Dispute settlement system from the FTA, but the deal passed without any change.ISD systemCritics say the ISD system allows a large-sized, multinational investment capital or c
Korea-U.S. FTA reaches end of convoluted road

Nov 22, 2011

The Korea-U.S. Free Trade Agreement was approved by Korea’s National Assembly on Tuesday, putting an end to a tumultuous process that dragged on for more than four years.The path leading to Tuesday’s development began in 2003, when the government drew up an FTA roadmap that included forming such pacts with mega-economies like the U.S.In the following year the concept became a working process with the Office of the U.S. Trade Representative expressing interest in forming a free trade pact with Ko
FTA passage heightens political tension

Nov 22, 2011

DP decides to boycott all parliamentary sessions, fight back ratificationThe inter-party conflicts over the long-pending free trade pact peaked as the ruling Grand National Party enforced the trade bill in a surprise plenary session Tuesday, triggering heated backlash from the opposition camp and also from some of its own members.“From now on, the DP shall suspend all of its parliamentary schedules and focus on fighting back the GNP’s violence and expediency,” said Rep. Kim Yoo-jung, floor spoke
Presidential office welcomes approval of U.S. FTA

Nov 22, 2011

South Korea's presidential office welcomed the parliamentary approval of the free trade agreement with the United States, saying the government will continue to come up with support measures for farmers and others."Though it went through a difficult process, it is fortunate that the Korea-U.S. FTA h
Parties to push welfare budget boost

Nov 22, 2011

DP to cut on MB-led construction plans; GNP to back Park Geun-hye’s welfare policiesWith next year’s general and presidential elections in mind, parties all set out to boost the budget allocation for welfare projects, though their directions and amounts varied.The main opposition Democratic Party focused on slashing the budgets for construction projects pushed by the Lee Myung-bak government, such as follow-up works on the four-river restoration project and the Jeju naval base construction.“We w
Shares in Ahn’s company riding roller-coaster

Nov 22, 2011

The stock price of the antivirus software company founded by Ahn Cheol-soo in 1995 has surged since he was first touted as a potential presidential candidate in early September, leading to fortunes for early investors and shareholder-employees.But analysts have warned of continuing fluctuation in AhnLab’s share price, which they say has far exceeded its proper value.Shares in the company, which was listed in 2001, averaged slightly higher than 20,000 won in the first eight months of the year bef
Donations now part of political discourse

Nov 22, 2011

Public not so enthusiastic about presidential hopefuls’ ‘calculated’ acts of givingOn Nov. 15, a throng of reporters waited in front of a graduate school in Suwon, Gyeonggi Province, armed with questions for a man who had returned to the political limelight after pledging to donate a chunk of his wealth to society.As soon as he got out of his car, Ahn Cheol-soo, dean of Seoul National University’s Graduate School of Convergence Science and Technology, was surrounded by journalists asking about t
Panel recommends inter-Korean talks over Geumgang tours

Nov 22, 2011

Advises government to address North’s confiscation of assets at mountain resort A presidential advisory panel on national reunification has recommended to President Lee Myung-bak inter-Korean talks for the resumption of tours to the Mount Geumgang resort in North Korea.The recommendation by the National Unification Advisory Council came as Seoul has softened its hard-line stance toward Pyongyang in efforts to improve ties that turned sour following two deadly attacks last year.“Although the Nort