The South Korea-EU free trade agreement (FTA) is close to being formally signed by the two sides.

According to a source at the European Commission, the EU Council will decide whether to give its final nod of approval to the agreement on September tenth, the date by which the review of treaty is to be completed.

Even if the formal signing does not take place on the tenth, most believe the FTA will be officially signed sometime in mid-September.

The agreement was inked in October 2009.