Top S. Korean, U.S. trade officials seek compromise on free trade deal

Trade officials from South Korea and the United States sat down with each other Monday in their last- minute efforts to iron out differences on their two-way free trade pact still awaiting legislative approval in both countries.

South Korean Trade Minister Kim Jong-hoon and his U.S. counterpart Ron Kirk started the two-day negotiations in Seoul before their leaders meet for talks on Thursday on the sidelines of the G-20 summit, slated for Nov. 11-12.

The two countries held a series of working-level meetings earlier this month but reportedly failed to settle outstanding differences on major issues, including auto trade imbalances and U. S. beef imports.

South Korean President Lee Myung-bak and his American counterpart, Barak Obama, recently agreed to reach a final compromise on the free trade deal before the G-20 summit among the world's major economies.

Ratification of the free trade agreement, struck in 2007, has been held up by legislators in both countries, with some U.S. lawmakers calling for renegotiation.

Kim is scheduled to have a press briefing on the negotiation later in the day.
(Source:xinhua)