U.S., Korean Businesspeople Plead Case for FTA

Korean and U.S. business leaders met in Washington on Tuesday and warned that scrapping the bilateral free trade agreement could pose a threat to the security alliance between the two countries.

The statement was issued at the annual meeting of the U.S.-Korea Business Council, which was established in 1988 by the Federation of Korean Industries and U.S. Chamber of Commerce.

"The Korea-U.S. trade pact has served as a platform to expand bilateral trade and investment and created new business opportunities for both countries," it said.

It warned that breaking it will lead to broader geopolitical ramifications at a critical time for U.S. and Korean national security and damage the bilateral relationship.

Heavyweights at the meeting included Hanjin Group chairman Cho Yang-ho, FKI and GS Group chairman Huh Chang-soo, Korean Ambassador to the U.S. Ahn Ho-young, Representative Ed Royce and former U.S. ambassador to Korea, Mark Lippert.