Korea-US joint fact sheet does not require Assembly ratification: FM

Foreign Minister Cho Hyun said Friday that the Korea-U.S. joint fact sheet outlining trade and security commitments following the recent summit between Presidents Lee Jae Myung and Donald Trump does not require National Assembly ratification, as it is structured as a memorandum of understanding (MOU) rather than a legally binding treaty. "From the beginning of discussions, the United States preferred this to take the form of an MOU rather than a treaty or a binding obligation, and it has done the same with other countries. The MOU clearly states that it does not contain any mandatory provisions," Cho said during a session of the National Assembly’s Foreign Affairs and Unification Committee, when asked about the fact sheet. "Therefore, we have decided that the MOU itself does not require parliamentary ratification. However, if it imposes burden on the public, we will seek National Assembly approval through a separate bill." On the enforceability of the fact sheet, Cho said, "While we can suspend investment pledges midway, the U.S. position is that tariffs would be raised again in suchWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times