By 
Protesters shout slogans calling for re-negotiating the free trade agreement with the United States during a rally near the National Assembly in Seoul on Nov. 3, 2011. The rally came amid a parliamentary face-off between the ruling and opposition parties over the ratification of the deal. The ruling and opposition parties have sparred over the pact's investor-state dispute settlement, a controversial provision that allows foreign investors to bring trade dispute claims directly against the government of the co-signatory before an international panel of arbitrators.
Via Yonhap.
She hasn’t seen...
2:05 pm on November 4th, 2011 1
Tonight, someone suggested that provisions of the FTA which limit government subsidies could force the end of the Korean subsidized healthcare system to provide
“fair” competition for foreign insurance companies.
This could be hype…
…or this could be the exact kind of crap one expects from connected insurance companies, bought politicians, and cash-strapped governments.
Any ideas?
4:54 pm on November 4th, 2011 2
There is NO WAY IN HEXX that the S Koreans would allow some American insurance company to force S Koreans to give up their national care system. The mad cow fiasco would look like a walk in the park.
7:41 pm on November 4th, 2011 3
Agree with John:
If that insurance provision was included, then I for one would be out there in the street protesting.
I’m sure if you have had experience with our healthcare system, you would agree.
FYI, insurance companies in the US have pretty much took away American rights to decent healthcare at an affordable prices.
It will never happen here.
9:26 pm on November 4th, 2011 4
“Low Turnout for FTA Protest”
To be fair Nov. 3rd was Student’s Independence Memorial Day, a nationwide memorial day, so everyone already had plans.
9:40 pm on November 4th, 2011 5
The Left’s Absurd Lies about the ROK/FTA…
http://www.koreatimes.co.kr/www/news/biz/2011/11/123_98049.html
“One rumor argues that the FTA will wipe out Korean rice farmers and Korea will fall victim to big grain producers, although the rice market has already been opened in accordance with the multilateral agreement made under the supervision of the World Trade Organization.
Another claims that the FTA will push mad cow disease to immediate epidemic proportions; while firearm controls will be lifted, turning Korean streets into scenes of gun battles.
According to the messages on the KORUS FTA circulating on the Internet and SNS, Koreans will suffer from expensive medical bills, caused by privatization of medical services. Protests say, for example, patients will have to pay 9 million won for an appendectomy, up from currently 300,000 won, after the FTA takes effect.
In addition, they say that the FTA deal will raise public utility charges, as Bolivia faced after the FTA with the United States.
However, both rumors turned out to be false, as the medical sector is not included in the FTA, while Bolivia did not reach an agreement with the United States, according to the government.
The Democratic Labor Party came up with 12 poisonous articles on the FTA, while an opposition lawmaker cited the message that 15 Mexican delegates of the North American Free Trade Agreement (NAFTA) were shot to death after the nation’s economic downfall following the FTA.”
9:49 pm on November 4th, 2011 6
I think one of the posts mentioned that it is probably more profitable for Koreans than Americans if FTA goes into effect. I believe that. Don’t know why Americans would want FTA.
The Korean leftists (commie infiltrated) are raising hell not because FTA is flawed but because the FTA is KORUS not China. FTA with Europe was no problem.
Same guy, Mr. Kim Jong Hoon, headed the negotiation on FTA with Europe.
SK has become an open society so it is easy for the Commies to infiltrate. I tried to understand Korean leftists’ view but now, I don’t try or want to because their views are all tainted by the North Korean Communists – especially, Democratic Labor Party. It is just that a southern branch of Labor Party of DPRK.
10:44 pm on November 4th, 2011 7
Hmmm…
After reading the summary of the FTA from the Office of the United States Trade Representative, I can see how someone might interpret the agreement as threatening the Korean government-subsidized healthcare system.
There is a bunch in there on pharmaceutical pricing and dialogue on emerging health care policy issues… which does sound suspiciously like Big Pharmacy being sick and tired of Korea providing very affordable medicine to its citizens at the expense of Big Pharmacy profits.
America is a leader in medical technology… but not so much in pricing or policy… and with a government bought by Big Pharmacy lobbyists seeking even higher profits for the industry, it seems uncomfortable to think they are pushing change in the functional Korean system after causing so much dysfunction in the American system.
I read it quickly and I only read the summary… but it may be worthy of further investigation.
http://www.ustr.gov/about-us/press-office/fact-sheets/2009/april/summary-us-korea-fta
Also, the US-KOREA FTA Business Coalition says,
“LEVEL PLAYING FIELD WITH KOREAN GOVERNMENT AFFILIATED INSURANCE PROVIDERS
Korea Post and other quasi-government entities are prohibited from issuing new insurance products upon the FTA’s entry into force. Furthermore, these entities
will be subject to the same regulatory authority and requirements as U.S. insurance firms.”
Without knowing the specifics… but knowing that the FTA is designed eliminate government subsidy in industries where foreign companies can make a profit… I am once again suspicious the FTA can impose dysfunctional American values on Korea’s very functional system.
http://www.uskoreafta.org/sites/default/files/MOWInsuringUSCompetitivenessinKorea.pdf
So…
What do y’all think now? Hype? Reading too much into this? Danger on the horizon?
11:33 pm on November 4th, 2011 8
I would not think so…
If in fact FTA would cause such dysfunction in our well-functioning healthcare system, then FTA should be either renegotiated or canned altogether.
Korean healthcare system is one of our country’s reason for its competitiveness world-wide, because companies do not have to pay heavy health insurance premiums for their employees like they do in the U.S.
If the U.S. wants to level the playing field by making Korean system same as their’s then FTA should definitely be a no go.
I’m sure our S. Korean government wouldn’t do such a stupid thing.