Progress between South Korea and the European Union in realizing their free trade agreement could serve as a catalyst to restore momentum to a stalled deal between Washington and Seoul, the head of a U.S. business group said Oct. 19.

"I hope that the initialing of the Korea-EU FTA ... will light a fire under policymakers in Washington," said Amy Jackson, the president of the American Chamber of Commerce in Korea.

South Korea and the U.S. signed a landmark accord in June 2007 to slash tariffs and other barriers to trade, but the deal has languished in political limbo in both countries, where it awaits legislative ratification.