SEOUL: South Korean President Lee Myung-Bak approved a new free trade deal with the United States, saying the agreement would bring "huge benefit to both countries".
He on Saturday urged an early ratification of the new deal by legislative bodies in both countries, which has been delayed for more than three years since an initial deal was signed in June 2007.
"The South Korea-US Free Trade Agreement (FTA) will bring a huge benefit to both countries. It will also provide a momentum to raise the South Korea-US alliance to a new level," Lee said in a statement.