The leader of the ruling Saenuri Party said Thursday South Korea should pool wisdom to best take advantage of the landmark free trade agreement with the United States while at the same time paying attention to its dark side.

The trade pact went into effect Thursday, nearly five years after it was first signed in 2007. The deal, which was modified in late 2010 and then ratified last year, has been one of the most contentious political issues in South Korea, with opposition parties claiming it favors the U.S.

“While taking care of the bright and dark sides of the South Korea-U.S. FTA in a balanced manner, we have to pool wisdom to maximize its (positive) effects,” Rep. Park Geun-hye said during a party meeting. “What is important now is to make the South Korea-U.S. FTA a chance to upgrade the quality of life for the people.”

Park, a leading presidential hopeful, said the government should actively seek measures to address fresh challenges the trade agreement would pose to the country‘s agricultural, fisheries and livestock industries. Policies that will make the benefits of the FTA evenly spread among the people are also needed, she said.

She also called for an end to political bickering surrounding the agreement.

The main opposition Democratic United Party says it will seek a “renegotiation” with the U.S. while its left-leaning alliance partner Unified Progressive Party has called for scrapping the agreement altogether.

“There should no longer be divisions and discord in political circles,” she said. (Yonhap News)