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SKorea opposition refuses to ratify US trade deal

SKorea opposition refuses to ratify US trade deal

November 16th, 2011 in News

SEOUL, South Korea (AP) - South Korea's main opposition party says it will not ratify a free trade deal with the United States unless a key sticking point is addressed.

President Barack Obama signed off on the deal after congressional approval last month. But South Korea's opposition lawmakers have blocked the deal's approval.

South Korea's president offered Tuesday to seek renegotiation of a key sticking point in exchange for opposition support. But the opposition Democratic Party says it will not support the measure before a provision is removed that would enable investors to take disputes to an international arbitration panel.

The deal would be the biggest free trade agreement for the U.S. since the 1994 NAFTA agreement with Canada and Mexico.