Government to Provide 2.8 trillion won for Companies Adverse
The government announced that domestic companies adversely affected by the Korean-US FTA will be financially supported for the next ten years. According to the Ministry of Trade and Energy yesterday, it will disclose a 2.8 trillion won package aimed at supporting the domestic business sectors adversely affected by the implementation of the FTA for the next ten years after the related bill is passed by the National Assembly.
The government will provide over 2.6 trillion won to manufacturing companies and 207 billion won to workers who may be dismissed. Additionally, information assistance, short-term management funds, administration, technology counseling, and loan supports will be available from the government. For the workers to be terminated due to the FTA, they will be retrained, transferred or reemployed under the law.
Related to this package, representatives from a variety of private business sectors launched the FTA Advisory Committee at Seoul Lotte Hotel on April 18, aiming at supporting the government negotiations with the US for the FTA. According a source, it will play a role as an active advisory group in support of a successful conclusion of the Korean-US FTA.
Meanwhile, FTA-related US and Korean officials made an agreement in Washington yesterday to form 17 special negotiating divisions for successful FTA implementation. Both sides also agreed to make a negotiating draft and exchange it by April 19. On the basis of the first draft, the two sides will exchange specific documents during the second round of the FTA talks in Seoul in July.
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 / 입력시간: 2006. 04.20. 10:11
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