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SEOUL, April 2 Asia Pulse - Top-level officials from South Korea and the United States struggled Monday to come up with major compromises in their final stage of negotiations on a proposed free trade agreement (FTA), with the deadline for the talks extended for the second time in two days.
"The talks are continuing after going past 1:00 a.m.," said Han Dong-man, a spokesman for the South Korean delegation, without specifying.
"We will make an announcement if a result comes out."
The last-minute "marathon" talks between South Korean Trade Minister Kim Hyun-chong and Deputy U.S. Trade Representative Karan Bhatia had been scheduled to conclude by 1:00 a.m. on Monday (1600 GMT on Sunday) in Seoul.
The 1:00 a.m. deadline was set when negotiators agreed early Saturday to keep negotiating past a previous deadline.
Still, both sides still have about 11 hours before U.S. President George W. Bush must notify the Congress of his intention to sign a deal with South Korea under his "fast-track" trade promotion authority, which expires on July 1.
That authority requires U.S. negotiators to submit a deal by April 2 (Washington time) for a mandatory 90-day congressional review before voting for or against it without amendments.
Source: HighBeam Research, SOUTH KOREA-U.S. FTA TALKS GO PAST EXTENDED DEADLINE.