Korea and China have been holding the 12th follow-up negotiations on the Free Trade Agreement (FTA) services and investment since the 23rd in Seoul, the Ministry of Trade, Industry and Energy announced on the 25th. The discussions will continue until the 27th.
This negotiation comes two months after the 11th official negotiations held in Beijing, China, in April. The chief negotiators from both sides are Kwon Hye-jin, the FTA negotiator from Korea's Ministry of Trade, Industry and Energy, and Liu Chun-yong, Deputy Director General of the International Trade Department of China's Ministry of Commerce.
The two countries are negotiating the opening of markets in three institutional sectors: services, investment, and finance.
A Ministry of Trade, Industry and Energy official noted, "We plan to negotiate so that the FTA agreement can serve as a foundation for expanding trade in services and investment between the two countries."