The full text of the KORUS FTA amendment that was agreed upon by Seoul and Washington in March has been disclosed online.
South Korea's Ministry of Trade, Industry and Energy explained that no changes have been made to the negotiation results that were previously revealed, adding it will collect public opinion on the revised clauses until next Monday.
Under the revised agreement, the U.S. will extend tariffs on imports of Korean pickup trucks by another 20 years to 2041.
Seoul made it clear in the amendment that safeguard measures be made to prevent potential abuse of the arbitration procedures by multinational companies in accordance to the investor-state dispute settlement system.
The ministry now aims to complete all necessary procedures to have the National Assembly ratify the amendment by end of this year.
Meanwhile, over the next three days,... the chairs of the country's three main parties will be giving speeches on their agendas and viewpoints at the National Assembly, which began a 100-day regular session yesterday.
Today, Lee Hae-chan, who was recently elected as the Democratic Party’s chairman, delivered a speech at the National Assembly, focusing on economic issues amid growing controversy over the Moon Jae-in government's income-led growth policy.
The ruling party chair also brought up the need to ratify the joint summit declaration reached between the two Koreas in April… saying this is in order to set the groundwork for the implementation of the agreement, such as North Korea's full denuclearization and inter-Korean exchanges.
Then, the South Korean government has confirmed the gradual application of the administration's reduction of mandatory military service duration,... to active-duty soldiers.
During Tuesday's cabinet meeting presided over by the nation's Prime Minister Lee Nak-yon, the government passed military management,... and announced that the ministry will shorten the duration of the nation's mandatory military service by two or three months.
The reduction of military service is one of President Moon Jae-in's election pledges, as well as a part of the Moon administration's defense reform initiative.
Lastly, families of the victims of the Sewol-ho Ferry disaster have removed the memorial altar in Paengmokhang Port.
Members of about 30 families paid a silent tribute one last time before taking down the photos of their loved ones on Monday.
The memorial altar was established 3 years and 8 months ago at the port in Jindo, Jeollanam-do Province to commemorate the more than 300 people who died when the Sewol-ho ferry sank in April 2014.
Sculptures and memorial items that filled the altar will be preserved at the Jindo National Maritime Safety Experience Center when it opens in 2021.
Source: Arirang News
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