Obama proclaims implementation of FTA with S. Korea

U.S. President Barack Obama has issued a proclamation on the upcoming implementation of a free trade agreement (FTA) with South Korea.

The two nations have agreed to put the FTA into effect as of next Thursday.

The proclamation, posted on the White House's Web site on Wednesday, innumerates related stipulations, including the establishment of an office at the Commerce Department responsible for providing administrative assistance and authorization for the U.S. Trade Representative to report to the appropriate congressional committees.

The pact, called the KORUS FTA, was signed in 2007 and received parliamentary endorsements in both countries last year.

Officials expect it to help further boost the Seoul-Washington partnership. But South Korea's liberal opposition parties are calling for a renegotiation of the deal, which they claim unfairly benefits the U.S. side. (YNA)