Trade Minister Kim Jong-hoon has reportedly said South Korea will ratify a free trade agreement with the U.S. by the end of this month, soon after its expected approval in the U.S.

The Washinton Post on Sunday quoted Kim as saying that Seoul is very close to the final phase although it is too early to raise a glass of congratulations.

Kim told the U.S. daily that Seoul will ease domestic concerns about the trade deal in the way the U.S. has by using an assistance program for those hurt by foreign competition.

The minister also said that the Seoul government will support farmers and small-business owners with proposed spending programs, similar to the U.S. trade assistance program.