With the deadline just hours away, Presidents of both South Korea and the US are working hard and negotiating to reach a mutual ground, so as to conclude the proposed FTA in time.

The sides have until 7 a.m. on Saturday (Seoul time), or 6 p.m. Friday (Washington time) to reach a deal.

This agreement aims to eliminate duty and other trade barriers between the two countries.

Sources inform that in the 20-minute telephonic conversation, President Roh Moo-hyun and President George W. Bush, discussed last minute obstacles.

Both sides agreed to empower their negotiators to conclude a deal in time with ‘maximum flexibility’.

Countries are committed to finalize the 10-month talks in time and believe this deal will be beneficial for both sides