Lee Hee-beom, the chairman of the Korea International Trade Association (KITA), has served as a bridge between business circles and the government as the co-chairman of the KORUS FTA Industry Alliance, a private group supporting the FTA.

"This is our country's first step in its endeavor to join the group of advanced economies," he said. "The government should work out measures to compensate those who might suffer from the market opening and continue the restructuring process. The National Assembly should ratify the FTA as soon as possible so that the negotiations will show results quickly."

In a statement, the Federation of Korean Industries said, "With the successful conclusion of the FTA talks with the U.S. as momentum, this agreement will upgrade the traditional alliance with the U.S. to a higher level, and greatly help our enterprises advance into the U.S., the world's largest market. Business organizations will help the country jump forward to join advanced countries, while doing our best to enhance corporate competitiveness through technological and management innovations."

The Korea Chamber of Commerce and Industry said, "We should view the FTA from the broad standpoint of promoting national interests rather than the interests of specific industries or groups. With this agreement as momentum, all economic entities, including private enterprises, will have to join hands to make our economy advanced and help it leap forward again."

In a statement, the KITA said, "The FTA will contribute to increasing people's incomes and creating more jobs, and serve as a stepping stone for the country's economy to join the group of advanced countries through globalization. We trading companies will do our best to help the FTA with the U.S. bring about substantial results by increasing exports, enhancing competitiveness, and expanding investment and cooperation among enterprises. We will also try to help this agreement serve as a framework for making our economy advanced."

The Korea Employers' Federation said, "We hope that the National Assembly will ratify the agreement as soon as possible, considering its potential contribution to boosting the national economy and credit ratings. In connection with this agreement, the government should work out separate measures to support the relatively less competitive agricultural sector."

In a statement, the Korea Federation of Small and Medium Businesses said, "We expect the conclusion of the free trade negotiations with the U.S. to increase exports to the U.S. and breathe new life into the small and medium businesses that have been in recession. But in terms of whether to recognize products made at the Kaesong Industrial Complex in North Korea as South Korean goods, it is very regrettable to see this issue put aside as part of the 'built-in agenda' in the deal, allowing both sides to hold further negotiations."

(englishnews@chosun.com )