Rival parties stand poles apart on S. Korea-U.S. trade deal

Rival parties in the National Assembly are poles apart on the U.S. trade deal.

The ruling Democratic Party welcomed the agreement, calling it the result of a firm defense of national interests and a valuable achievement of President Lee's pragmatic diplomacy.

DP floor leader Kim Byung-kee said Thursday the deal would further strengthen the bilateral alliance and industrial ties.

The main opposition People Power Party expressed concern that Korea may have conceded too much, while acknowledging that the 15 percent tariff rate was reasonable.

PPP floor leader Song Eon-seog pointed out that the pledged investments in, and imports from, the U.S. are excessive --surpassing the country's foreign exchange reserves.