The United States and South Korea successfully concluded a free trade agreement after almost 10 months of contentious negotiations, a U.S. official said Monday.The deal, which requires legislative approval in both countries, is the biggest for the United States since the North American Free Trade Agreement signed in 1992 and ratified in 1993. It is the biggest ever for South Korea.
Steve Norton, a spokesman for the Office of the U.S. Trade Representative, told The Associated Press that details would be provided in a briefing later.
The two countries started negotiations last June in Washington, alternating meeting sites between the two countries. Both sides strongly advocated a deal, saying it would boost trade and economic growth in the two countries, which already do more than $75 billion in trade a year.
Read More
