A bill to rescind certain United States economic benefits to the Republic of Korea unless steps are taken to promote democracy and respect human rights.
Democracy in South Korea Act of 1987 - Imposes certain sanctions on South Korea unless the President submits, and the Congress enacts a joint resolution approving, a certification that the Government of South Korea: (1) is taking steps to afford internationally recognized workers rights and has ended its pattern of violations of internationally recognized human rights; and (2) has made significant progress in establishing a peaceful transition to democracy. Specifies such sanctions as: (1) making South Korea ineligible as a beneficiary developing country for purposes of the generalized system of preferences; (2) prohibiting the Overseas Private Investment Corporation from providing any insurance, reinsurance, guarantees, or financing for projects in South Korea; and (3) requiring the U.S. Executive Director of each relevant multilateral development bank to cast a negative vote on any loan or other financial or technical assistance for South Korea which is not directed to programs which serve basic human needs.
Committee on Foreign Relations requested executive comment from State Department.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to House Committee on Foreign Affairs.
Referred to House Committee on Ways and Means.
Referred to Subcommittee on Trade.
Referred to Subcommittee on International Economic Policy and Trade.
Referred to Subcommittee on Asian and Pacific Affairs.
Referred to Subcommittee on Human Rights and International Organizations.
Referred to Subcommittee on International Finance, Trade and Monetary Policy.
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