US President Barack Obama (L) shakes hands with his South Korean counterpart Lee Myung-bak at South Korea's presidential Blue House in Seoul, capital of South Korea, on Nov. 19, 2009. [Xinhua]

Obama, saying he is a "stronger believer" in the benefits of the FTA with South Korea, introduced concerns within the U.S. " around the incredible trade imbalances that have grown over the last several decades."

The U.S. president, however, said one of his goals was "to make sure... that American people, American businesses, American workers recognize that we have to look at each agreement and each country on its own merits."

Meanwhile, when asked whether South Korea is willing to open its automobile market to get done with the deal, Lee said that he sought an opportunity to rediscuss the matter with the United States.

"Such a view came as I had sufficient communication with President Obama, and I want to push for it in an aggressive manner as it would benefit both of the countries," Lee said.

With respect to Lee's remarks, South Korean media were heated as it could imply that South Korea may go through negotiation process with the United States again.

Later, however, Seoul's presidential office denied such speculation, saying it did not mean renegotiation.

"What President Lee meant cannot be interpreted as renegotiation. Rather, it means that we could have an opportunity to listen to the U.S. side again as the auto issue is hampering the ratification," Kim Jong-hoon, South Korea's chief negotiator, said.

According to Kwak Su-jong, analyst at the Samsung Economic Research Institute, the president's remarks meant that South Korea could talk again with the U.S. to facilitate the ratification process as the U.S. president seeks parliamentary approval as early as in the beginning of 2010.

"Although the clauses related to other issues cannot be modified, a revision in the terms related to auto industry may be revised and complemented under a rediscussion process," Kwak said.

Lee and Obama also shared views on global issues, such as the G- 20 summit, climate changes, green growth, nuclear nonproliferation, and antiterrorism, according to Lee.

In particular, the two summits discussed on Seoul's hosting the G-20 summit meeting in November, 2010, agreeing to cooperate on the event.

"As we appreciate Obama's efforts to build a denuclearized world, South Korea will participate in the nuclear security summit to be held next April," Lee said.

The South Korean society, including the political circle, showed mixed reactions towards the outcome of the Lee-Obama meeting.

While the ruling Grand National Party (GNP) highly appraised the summit, opposition parties said it was a coreless meeting just held for meeting's sake.

"The two leaders have drawn meaningful results on urgent issues on the Korean Peninsula and in the East Asian region," said Cho Hae-jin, spokesman for the GNP, said.

However, the opposition Democratic Party (DP) said it was disappointed in what came out of the meeting as it was no different from the earlier bilateral summit in June.

The Liberty Forward Party also called the summit "abstract," saying it was just full of rhetorics without concrete measures.

The South Korean media, on the other hand, were mostly focused on the president's remarks that the country may talk again with the U.S. on the FTA due to auto industry issues.

Amid diverse speculations on what the president actually meant, the presidential office made clear that there will be no renegotiation.

However, another session of dialogue seems unavoidable and it may bring a revision on the auto industry-related clause, formed in "side agreements," said local daily Kyunghyang.

"As we are too much concerned on the ratification, we may have to give in to the U.S. demands on auto industry," Lee Hae-young, professor at Hanshin University, said, expressing worries on the aftermath.

Evaluations on the two leaders' agreement over the denuclearization issue conflicted as well, with some calling it " meaningful" as it came amid escalating inter-Korean tensions while others saying "it lacked action plans."

Leaving heated controversy behind, the U.S. president flew back home from the U.S. air base in Osan, wrapping up his 20-hour-long stay in Seoul.