Parties to ratify Korea-EU FTA Wednesday



Parties will hold a provisional session on Wednesday to pass the disputed Korea-EU Free Trade Agreement bill, on which they failed to reach an agreement during the April plenary session.

In a last-minute debate on Monday, parties agreed to ban the location of large supermarkets within the 1 kilometer radius of small traditional markets, instead of the previously suggested 500 meters, as a step to protect local businesses.

They also raised the amount of government subsidy to farmers, who may suffer losses due to depreciation of local agricultural and livestock goods, officials said.

The Korea-EU FTA, if ratified, is to take effect this July.



By Bae Hyun-jung (tellme@heraldcorp.com)