S Korea, U.S. businesses say no need to change bilateral free trade pact
www.chinaview.cn 2009-09-24 12:00:11   Print

    SEOUL, Sept. 24 (Xinhua) -- Most business lobby groups and companies in South Korea and the United States say there is no need to change the terms in the South Korea-U.S. free trade agreement, a private survey showed Thursday.

    According to the survey by Seoul's trade lobby group, Institute for International Trade of the Korea International Trade Association, 91.8 percent of the 318 participant companies said they support the deal "under the current form."

    The businesses surveyed include the Federation of Korean Industries, Hyundai Motor Co., Kia Motors Corp. and LG Electronics Inc. in South Korea, and Citi Group, IBM Corp. and Boeing Co. in the U.S., the lobby group said.

    Since South Korea and the U.S. sealed the pact in 2007, its approval in both countries has been slowed with some opposition groups urging it has to be modified in terms related to agriculture in South Korea and automobiles in the U.S.

    To win an approval, the deal needs to be ratified in both parliaments in Seoul and Washington.

Editor: Xiong Tong
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