S. Korea, U.S. businesses support free trade deal as-is

SEOUL, Sept. 24 (Yonhap) -- Most business lobby groups and companies from South
Korea and the United States think there is no need to change the free trade
agreement between the two nations, a private survey showed Thursday.

South Korea and the U.S. signed the deal in 2007, but the approval process by
lawmakers in both nations has been slow. The deal needs to be ratified by
legislators both in Seoul and Washington to take effect.
According to the Seoul-based Institute for International Trade of the Korea
International Trade Association, an influential trade lobby group, 91.8 percent
of the 318 stakeholders surveyed said they support the deal "under the current
form."
In South Korea, the surveyed included the Federation of Korean Industries,
Hyundai Motor Co., Kia Motors Corp. and LG Electronics Inc.
In the U.S., Citi Group, IBM Corp. and Boeing Co. were among those surveyed.
Some have opposed the deal, arguing it will undermine key industries in both
nations, particularly for agriculture in South Korea and automobiles in the U.S.

(END)

Delete & Prev | Delete & Next
Move to: