Korea and the United States will reportedly begin fully fledged renegotiations on a bilateral free trade agreement signed in 2007 but stuck in the two parliaments since. What was billed as "additional talks" about some portions of the FTA collapsed last week when the two sides failed to agree on auto and beef imports.

The renegotiations could throw the entire agreement open to discussion but will focus on auto and agricultural provisions.

"The two sides will hold negotiations to revise some parts, including auto provisions, " a senior presidential official said Tuesday. "The government was against revising the agreement itself, but it has recently concluded that this will be necessary to promote the interests of both countries."

"Our opposition to the revision was never an irreversible policy, and it's clear that we can make no progress if we adhere to it," the official added. "The U.S. wants to revise some parts, and we have our own demands."

Washington wants to phase out 25 percent customs duties on Korean pickup trucks over 15 years instead of 10 as previously agreed. In return, Seoul will ask Washington to make concessions in the agricultural sector. The two sides agreed to resume talks in Washington next month.