Kim Jong-hoon, the Trade Minister of South Korea, said on Thursday June 12 that he will soon be leaving for the US to revise a beef deal that has resulted in mass street demonstrations in Seoul as well a sharp decline in the support for the newly elected President, Lee Myung-bak. Not only have those rallying in Seoul demanded the ouster of the South Korean President Lee Myung-bak, but this has also cast a dark shadow on his plans for pro-business reforms that include tax cuts and privatization of state firms.
 

Of late there have been acute demonstrations in South Korea because of the mad-cow disease in the United States and this issue has only added to the many grievances nurtured against President Lee’s government. The government of Lee has said that it will not seek renegotiation on the beef deal made in April which permits entry of more beef into the country. On the contrary, it was announced, that the South Korean government will ask for voluntary measures that would exclude beef imports from cattle over 30 months old.