Disagreement among Korean lawmakers about the free trade agreement with the U.S. has stalled movement of the deal in the South Korean National Assembly.
While the U.S. approved the FTA in mid-October with President Obama signing it October 21st - the Korean Assembly failed to approve the treaty last Friday (October 28th, 2011). According to Bloomberg News, South Korea President Lee Myung Bak is urging the public to back the FTA and show their support to the nation's lawmakers.
Bloomberg says hundreds of South Korean farmers and others protested the FTA on Friday, storming the National Assembly, saying their livelihoods are threatened by the agreement.
U.S. beef and pork producers are especially concerned because they estimate the Korea FTA will greatly boost U.S. exports and increase the per head price of their livestock.