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It looks like this is a done deal as long as Congress doesn't screw it up.
US and S Korea agree trade deal
Protestors in Seoul
The free trade talks have generated protests on the streets of Seoul.
The US and South Korea have reached a free trade agreement, after 10 months of intensive talks.
The deal, which has not yet been formally announced, still requires legislative approval.
Both countries were keen to agree a deal, believing it will boost trade and economic growth.
It is the biggest trade deal since the US signed the 1992 North American Free Trade Agreement, opening up the highly protected South Korean market.
But the negotiations have been hampered by differences over various trading sectors, especially those of vehicles and agriculture.
Heated argument
Steve Norton, a spokesman for the Office of the US Trade Representative, confirmed on Monday morning that an agreement had been reached.
A South Korean presidential official also said a deal had been concluded, although no official announcement has yet been given.
The negotiations were long and protracted, and had already missed two US-imposed deadlines.
They also raised heated passions on both sides.
Trade between the two countries reached $72bn (£37bn) in 2005, and those in favour of the agreement insist it will help economic growth.
But hundreds of South Koreans have protested against the deal, arguing that it would threaten their livelihoods.
One protester set fire to himself close to the Seoul hotel where the talks have been taking place.
There was pressure to close a deal, because President George W Bush's Trade Promotion Authority, a so called "fast track" power, ends on 1 July, and any agreement had to be reached 90 days beforehand - by the end of Sunday, US time.
The special power enables Mr Bush to send trade pacts to Congress, for a straight yes or no vote, but amendments are not allowed.
US and S Korea agree trade deal
Protestors in Seoul
The free trade talks have generated protests on the streets of Seoul.
The US and South Korea have reached a free trade agreement, after 10 months of intensive talks.
The deal, which has not yet been formally announced, still requires legislative approval.
Both countries were keen to agree a deal, believing it will boost trade and economic growth.
It is the biggest trade deal since the US signed the 1992 North American Free Trade Agreement, opening up the highly protected South Korean market.
But the negotiations have been hampered by differences over various trading sectors, especially those of vehicles and agriculture.
Heated argument
Steve Norton, a spokesman for the Office of the US Trade Representative, confirmed on Monday morning that an agreement had been reached.
A South Korean presidential official also said a deal had been concluded, although no official announcement has yet been given.
The negotiations were long and protracted, and had already missed two US-imposed deadlines.
They also raised heated passions on both sides.
Trade between the two countries reached $72bn (£37bn) in 2005, and those in favour of the agreement insist it will help economic growth.
But hundreds of South Koreans have protested against the deal, arguing that it would threaten their livelihoods.
One protester set fire to himself close to the Seoul hotel where the talks have been taking place.
There was pressure to close a deal, because President George W Bush's Trade Promotion Authority, a so called "fast track" power, ends on 1 July, and any agreement had to be reached 90 days beforehand - by the end of Sunday, US time.
The special power enables Mr Bush to send trade pacts to Congress, for a straight yes or no vote, but amendments are not allowed.
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