By Na Jeong-ju
Staff Reporter

President Lee Myung-bak called for the new U.S. ambassador to Seoul Monday to help achieve an early ratification of the Korea-U.S. free trade agreement (KORUS FTA), saying the accord will benefit both countries and help strengthen their 60-year-old alliance.

Lee received credentials at Cheong Wa Dae from Kathleen Stephens, who arrived in Seoul on Sept. 23 to replace Alexander Vershbow and become the first-ever female U.S. ambassador to Seoul.

``The KORUS FTA will not only help the United States overcome its financial turmoil, but also bring a lot of economic benefits to Northeast Asia,'' Lee was quoted as telling Stephens by Cheong Wa Dae deputy spokesperson Kim Eun-hye. ``Lawmakers of both countries should ratify the deal as soon as possible as it will be crucial for the two countries to foster a stronger alliance.''

Stephens told Lee that she will every possible effort to help Seoul and Washington come closer and resolve major pending issues, including the KORUS FTA, which was concluded by both governments in April 2007, but has since been awaiting ratification, according to spokesperson Kim.

Lee and U.S. President George W. Bush agreed to have their respective legislative bodies ratify the FTA by the end of this year, but the outlook remains uncertain.

For its part, the Lee Myung-bak administration has urged lawmakers to pass the trade deal.

The country's top economic policymaker Kang Man-soo said that it will cost South Korea about 15 trillion won if the ratification of the KORUS FTA is delayed by one year.

``According to the Korea Chamber of Commerce and Industry, a one-year delay in ratification of the Korea-U.S. FTA will cause a 15 trillion won loss here. It is necessary for the National Assembly to approve the pact as soon as possible,'' said Kang, the minister of strategy and finance.

President Lee and Stephens exchanged views on various issues, such as the recent upgrade of South Korea's status in the purchase of U.S. defense systems, the pending U.S. visa waiver for South Korean visitors and a U.S. job training program for South Korean college students.

The President expressed confidence in the new U.S. envoy, saying, ``The Korean people deeply welcome Ambassador Stephens. We have a lot of expectations of you, because you understand Korean sentiment well.''

Stephens taught English in Korea as a Peace Corps volunteer in the 1970s and later served as a diplomat at the U.S. Embassy in Seoul and the consulate in Busan.

jj@koreatimes.co.kr