By Kang Hyun-kyung
U.S. industries want Congress to ratify a free trade agreement with Korea (KORUS FTA) early to prevent possible business loss in Korea as the country also signed a similar deal with the European Union, a South Korean envoy said.
Han Duk-soo, Korean ambassador to the United States, told reporters Thursday that U.S. businesses voiced concern over the delay of the ratification as it is obvious that they will lose out in the Korean market if the congressional approval comes far behind the ratification of the Korea-EU FTA.
The envoy made the remarks amid the National Assembly’s move to pass the trade deal with the EU in March at the earliest.
South Korea and the United States signed the additional deal last year. The Ministry of Foreign Affairs and Trade submitted the motion to the National Assembly Foreign Affairs Committee.
Lawmakers here, however, have not begun discussing it.
They will wait to see how the U.S. Congress will handle the trade bill. If they pass it, Korean legislators plan to read the motion at the legislature.
Han visited Seoul for the annual conference of Korean mission chiefs held in Seoul for five days from Monday.