BEIJING (Xinhuanet) -- The European parliament approved the South Korea-EU Free Trade Agreement on Thursday. The move has cleared the final hurdle for the EU's first such deal with an Asian country to go into effect starting July. Now the deal goes to lawmakers in Seoul.

South Korean President Lee Myung-bak is likely to finalize the last step to ratify the deal this month. But some analysts think he will probably meet some opposition.
The world's second-largest free trade agreement is one final step away from full implementation, with the South Korea-EU FTA now going before Korean lawmakers.
With final approval from the European parliament overnight, the EU is hoping for a smooth approval process in Seoul.
The deal is expected to double the value of trade in goods between the EU and South Korea to around 100 billion euros ($135 billion) a year.
The agreement aims to eliminate 98 percent of import duties, totaling a combined $3.7 billion, as well as trade barriers in manufactured goods, agricultural products and services over the next five years.
President Lee Myung Bak's Grand National Party is eager to ratify the deal in parliament this month
Yoo Ki-Jun, Lawmaker, South Korea's Grand National Party, said, ""The free trade agreement with the EU will have a positive impact on our economy by increasing jobs and exports. This will contribute to our national economy. Therefore, I think the agreement should be approved any time soon.""
But cooperation from opposition parties is not assured.
Kim Dong-CHEOL, Lawmaker, Democratic Party, South Korea's Opposition, said, ""Domestic livestock is already in danger of collapse partly due to the foot-and mouth disease. We will check how the government would take measures against this (agricultural damage) and will have an in-depth review of the deal. We would like to keep our deliberate attitude on the South Korea - EU FTA.""
The agreement includes a special provision that allows EU governments and companies to seek duties if Korean imports hurt EU producers.
Seoul also eased tough domestic emission rules, to allow EU vehicles into the country. This has triggered concerns that environmental laws will be seen as non-tariff barriers to trade.
The proposed South Korea-EU FTA is second only in size to the North American Free Trade Agreement.