The United States will be at a competitive disadvantage in the South Korean market unless Congress approves a bilateral free trade agreement signed two years ago, Reuters cited a Korean official as saying today. "Korea strongly hopes this agreement will be put into effect as soon as possible," South Korean Ambassador to the United States Han Duk-soo said. He spoke at the Heritage Foundation in Washington not long after European Union and South Korean officials initialed a bilateral free trade pact. That agreement should be in force by the middle of next year, Han said. Korea hopes for progress on U.S. autos and other concerns blocking approval of the U.S.-Korea agreement by the time President Barack Obama visits the country in November, Han said.
