Korean Job Discussion Forums

[wylies99]

http://www.brownfieldnetwork.com/gestalt/go.cfm?objectid=556CA078-F225-FFD2-050B518F9625AA63

Wheels coming off U.S.-South Korean beef deal
Wednesday, June 4, 2008, 4:13 PM

by Peter Shinn

Anyone who thought the U.S. had a deal with South Korea over beef may well be mistaken. It now appears political pressure in South Korea may unravel a pact initially announced in April.

The U.S.-South Korean beef deal, which was supposed to have taken effect Tuesday, is now in a state of flux, as daily street protests in Seoul against the agreement are threatening to de-rail it completely. South Korean President Lee Myung-bak's approval rating is between 20% and 30% and his government is asking if the U.S. would agree to ship only beef from cattle 30 months of age and younger.

On April 1st, South Korean Ambassador Lee Tae-sik assured Brownfield during a joint press conference with Nebraska Governor Dave Heineman in Omaha that a new deal on beef would comply with World Organization for Animal Health (OIE) guidelines. So what�s happened since?

John Reddington is Vice President of International Trade for the American Meat Institute (AMI). He told Brownfield the seeds of the current debacle were sown through Internet rumors spread by a pair of South Korean teenagers.

"This started with a couple of high school bloggers who used misinformation that was picked up by other school kids, by the school teachers' union," Reddington said.

Among the inaccuracies that were swiftly disseminated were stories that South Korean's are genetically predisposed to contract variant Creutzfeldt-Jakob Disease (vCJD), the human form of bovine spongiform encephalopathy (BSE), and that U.S. consumers refuse to eat American beef. Those falsehoods, according to Reddington, were then seized upon by opponents of the pending U.S. � South Korean free trade agreement and a mass-movement developed.

So will the U.S. renegotiate the beef deal? Reddington said AMI is still waiting to hear from USDA. And in the meantime, as South Korea�s ban on U.S. beef moves through its fifth year, Reddington had this sentiment.

"It's frustrating to everybody," he sighed. "We're just beside ourselves with frustration."

The bigger issue may be the pending U.S.-Korea Free Trade Agreement (FTA). And if the wheels do come of the U.S.-South Korean beef deal, Nebraska Democratic Senator Ben Nelson told Brownfield Congressional approval of the FTA is out of the question.

"The answer is no," Nelson said. "In the absence of a functioning agreement regarding the full importation of U.S. beef under the OIE guidelines, there is no way the trade agreement is going to be approved. It just can't happen."

Nelson added that he hates to tell anyone "he told them so." But Nelson also pointed out he publicly warned back in April against getting too excited about any so-called deal on beef with South Korea until such a deal was actually in place and working for a while.

[wylies99]

This FTA was a better deal for South Korea than the US. Guess that unlimited tourist visa for South Koreans visiting the US is off the table, too.


Stupid Koreans.

[aka Dave]

Still though, Brownfield network? Obviously not a major news outlet. I don't see the issue getting any traction in the MSM. What's interesting is there was a story in the Korea times that said there's 2/3 support for the FTA. I'll link.

http://www.koreatimes.co.kr/www/news/nation/2008/06/116_25487.html

[blaseblasphemener]

So the entire korean economy is going to take a monumental hit due to the FTA not being ratified by congress, all thanks to the Korean beef industry's obvious successful attempt to stop the importation of beef. "The Korean beef industry". Did they even have cows in this country 30 years ago? Way to throw the Korean economy out with the bathwater.

[tob55]

The information in this post just supports what will happen next IMO. The FTA fails to get passed thereby dissolving any trade negotiations between the US and Korea. Next, the Korean economy will begin to falter in areas unconnected to the agreement in the first place, such as housing and credit. There are already reports that better than 25% of the Korean using credit cards and having mortgage loans are facing serious problems (This has all been reported on the major media KBS, SBS, MBC, and YTN during the past week and a half.)

The food and commodity prices will escalate beyond the limits of Korean pocket books (thanks to the limited number of Korean suppliers who control everything) and because many are so addicted to cigarettes and alcohol that they could not think to cut back on those commodities to provide food for their families. You will then begin to see the bottom fall apart as the whole infrastructure, sending the country into a serious recession. (I know I am being simplistic in providing examples, but it is clear that the whole system from A to Z is going to be affected)

Sorry for the gloom and doom scenario, but Korea had majored in the minors here regarding the perceived concerns they face. My wife told me recently she had seen a news brief that indicated that some of the big name companies in this country are at the point of bankruptcy because they have over extended their company assets.

On the bright side, if you are an F2 or F5 visa holder and looking for an apartment to buy, just wait about 3 - 6 months, and you should have no problem finding a good place for very low dollars. It will take a brief period of time for the impact of this failed agreement to impact the people of Korea, then they will certainly be protesting because they are heading backwards as a nation, while holding onto their national pride.

Again, sorry for the negativism in this post, but the writing is on the walls and it must be in a language the Koreans can't understand.

[bluelake]

[ulsanchris]

All of this was started by a couple of highschool students?!!!! I hope some one tears them a new asshole for this.

[aarontendo]

[ulsanchris]

Yes it is awesome that a couple of high school kids riled up the whole country. yes it is awesome that their actions have led to violent protests where many people have been hurt. yes it is awesome that some guy has set himself on fire over this. I cannot believe the awesomeness of the actions of these two guys.

[bovinerebel]

Korea is one long episode of South Park. But only if you take away all the connotations of "funny and cool".

Rabble rabble rabble.

[aarontendo]

[bovinerebel]

[CeleryMan]

Yet another self-inflicted tragedy; damn we're survivors!

[Scotticus]

[bassexpander]