S. Korea, U.S. biz leaders urge for early ratification of Korea-U.S. FTA

SEOUL, Feb. 7 (Yonhap) -- A major South Korean business lobby said Sunday it has
convened a meeting in Los Angeles with U.S. business leaders to push for the
prompt ratification of a Seoul-Washington free trade deal.
At the meeting on Saturday, business leaders from the two countries welcomed U.S.
President Barack Obama's pledge, made in his first State of Union speech, to
enhance trade with South Korea and other countries to help support the economic
recovery, according to the Federation of Korean Industries (FKI).
They also demanded that the U.S. president be more active in pushing for
Congressional ratification of the pending free trade agreement with South Korea.
Signed in 2007, the trade deal -- dubbed the KORUS FTA -- has been stalled in the
legislatures of both nations due to concerns over a trade imbalance in autos and
farm goods.
The meeting was attended by FKI Chairman Cho Suck-rai and Lee Yoon-woo, vice
chairman of Samsung Electronics Co. Wendy Cutler, assistant U.S. trade
representative for Japan, Korea and APEC affairs, also made an appearance to give
a special speech.
ylee@yna.co.kr
(END)