GNP floor leader calls for early ratification of FTA with U.S.

(ATTN: ADDS comments in 8th, 12th paras)
By Kim Eun-jung
SEOUL, May 16 (Yonhap) -- The ruling Grand National Party (GNP) floor leader called Monday for an early ratification of the free trade agreement with the U.S., saying South Korea should keep pace with Washington, which is trying to pass the deal through Congress by August.
"It appears that the U.S. plans to pass (the deal) by August, and I believe it would be best if we could handle it in keeping pace with the U.S. as much as possible," Rep. Hwang Woo-yea said in an interview with Yonhap News.
Hwang said it is difficult to say exactly when his party will act on the pact as he has to work with the opposition party, but added that August is an "important point in time and it is pressing to handle the FTA ratification bill."
Senior U.S. officials have said they are prepared to work with Congress to pass the long-pending trade pacts with South Korea, Panama and Colombia by August.
The agreement, negotiated under the administration of President George Bush, had stalled under President Barack Obama after his government complained the pact did not adequately address a large deficit in auto trade favoring Seoul. The two sides reached a revised deal in December, which gave more leeway for American automakers.
The main opposition Democratic Party is calling for additional measures for the local industry before approving the pact. Newly elected DP floor leader Kim Jin-pyo demanded re-negotiation of the agreement, claiming that it is "lopsided."
Hwang, a four-term lawmaker, said that the parliament should review potential loss, damage compensation programs and follow-up measures and that the government should step up efforts to persuade ruling and opposition lawmakers to back the deal.
"If we renegotiate the revised bill, it would take a lot of time. Considering the circumstances, the ruling and opposition parties as well as the government and parliament will have in-depth discussions to figure out what best suits the needs of the people," he added.
A large portion of DP lawmakers are likely to vote against the trade pact as the GNP-controlled parliament rammed through the ratification bill with the European Union earlier this month.
The GNP controls 172 seats of the 299-member parliament.
Meanwhile, Rep. Nam Kyung-pil, who chairs the Foreign Affairs, Trade and Unification Committee, said the FTA bill is expected to be submitted to the parliament by late June or early July.
"It is a matter that should be considered in connection with the U.S. Congress," the four-term lawmaker of the GNP said. "We will put forth utmost efforts to minimize the expected damage to local industry by thoroughly reflecting the opposition's claims and industry's demands and closely consulting with the government."
ejkim@yna.co.kr