RealNews

South Korea: No renegotiation of FTA with US

South Korea said Thursday that a free trade agreement with the U.S. stands as is, resolving to resist possible calls to redo the deal by the new administration of President-elect Barack Obama. “I repeat that there will be no renegotiation, whether it’s automobiles or any other issue,” said Trade Minister Kim Jong-hoon, according to a transcript of an interview with local radio network KBS. “We will respond by sticking to such a stance.” Kim’s comments came one day after his deputy Lee Hye-min told reporters that reconsidering the already signed agreement would be like opening a “Pandora’s box” and “could damage the balance reached when the deal was concluded.” Kim served as South Korea’s chief negotiator for the U.S. agreement before becoming trade minister. Full Story

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