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Lee, Obama celebrate FTA implementation
SEOUL, March 15 (Yonhap) -- South Korean President Lee Myung-bak and U.S. President Barack Obama celebrated the implementation of a landmark free trade agreement between the two countries Thursday, saying it will serve as a good model for global free trade and boost the alliance between the sides.

The pact, first signed in 2007 and modified in 2010, came into force as of midnight Wednesday. Lee and other officials in Seoul have said the deal will boost exports, create jobs and further strengthen the traditional alliance with Washington.