Business circles are calling for the early parliamentary ratification of the South Korea-U.S. free trade agreement (FTA).

In a joint statement, five big business organizations, including the Federation of Korean Industries, asked the National Assembly to approve the trade deal as soon as possible.

They said the FTA with the U.S. will help the South Korean economy weather the global economic crisis and will set the stage for a future recovery.

The business groups said reaching a point at which the nation is able to enjoy the effects of the trade pact as quickly as possible is the most important task facing the nation.

They believe Korea should first ratify the trade deal on their own, after which it can work on persuading the U.S. Congress to approve it.

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