The United States will announce next week the results of the Obama administration’s review on the South Korea-U.S. free trade agreement (FTA).

Washington is expected to make the announcement during an event organized by the Chamber of Commerce on Thursday.

The announcement comes as the U.S. chamber calls for swift ratification of the trade deal and as President Lee Myung-bak and U.S. President Barack Obama are set to hold summit talks in a few weeks.

Since the two nations signed the trade pact in June 2007, efforts to ratify the deal have run into difficulties due to strong opposition from the U.S. auto industry and related labor unions. Obama had continuously expressed concerns over the trade agreement before he was elected president.