U.S.-South Korea trade talks extended to third day

U.S.-South Korea trade talks extended to third day

2010-12-03 02:09:44 GMT+7 (ICT)

WASHINGTON, D.C. (BNO NEW) — Trade talks between the U.S. and South Korea on Thursday entered their third day in an effort to finalize a free trade agreement that began 3 years ago.

U.S. Trade Representative Ron Kirk and South Korean Trade Minister Kim Jong-hoon extended their negotiation talks, which were initially scheduled for only two days as beef and auto trade

"We are meeting again within one or two hours. It is not an easy task and will take some time before we reach a final agreement," Kim said after a morning session held in Columbia, Maryland.

On June 30, 2007, both countries had sealed the free-trade agreement, but the deal has been delayed as auto and beef industries have opposed to certain details.

With South Korea positioned as the seventh strongest trade partner to the U.S., numbers from the U.S. Auto Workers indicated that the U.S. exported 5,878 automobiles to South Korea last year, while South Korean auto shipments to the U.S. totaled 476,833 last year.

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