SEOUL, Dec 4 (Reuters) - South Korea confirmed on Saturday it has reached a revamped deal on free trade with the United States after a three-year delay.
An official announcement is expected in the next few days after both trade negotiators report back to their presidents, a presidential spokeswoman said in the South Korean capital.
The two countries signed a trade agreement on June 30, 2007, but ratification has been delayed due to sticking points involving U.S. autos and the opening of South Korean beef market.
"This agreement is meaningful in that it reflects both countries' interests in a balanced way and lays the foundation for a reciprocal win-win," South Korean President Lee Myung-bak said in a statement.
"It will also be an opportunity for the South Korea-USA alliance to make a leap by one notch. Our economy will face an opportunity to make a jump again in terms of quality."
Lee urged parliament and the U.S. Congress to approve the deal as soon as possible. (Reporting by Kim Yeonhee; Editing by Nick Macfie)