South Korea, China Resume Talks To Expand FTA

South Korea and China have begun a fresh round of negotiations to expand their bilateral free trade agreement (FTA), with a focus on services, investment and finance.

According to Ministry of Trade, Industry and Resources, trade delegations from both countries are holding the 14th round of follow-up talks in Seoul this week, aiming to broaden the scope of the existing pact.

The two nations originally implemented their FTA in December 2015, primarily eliminating tariffs on goods. Since 2018, they have conducted multiple rounds of discussions to extend the agreement into new areas, including services and investment.

Momentum for the talks was reinforced earlier this year during a bilateral summit in Beijing between Lee Jae Myung and Xi Jinping, where both sides agreed to accelerate progress on trade negotiations.

Officials said the expanded agreement is expected to create a more open and predictable environment for businesses, particularly amid ongoing global economic uncertainties.