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Korea, China to Hold 2nd Round of FTA Talks Next Week
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South Korea and China will hold their second round of free trade talks next week following a similar meeting in May, Seoul's trade ministry said Wednesday.

During the three-day meeting that starts on the southern island of Jeju, South Korea, on Tuesday, both sides will discuss the scope of their free trade deal and set up working groups on each segment, according to the ministry.

In early May, the two countries announced the launch of the formal free trade negotiations expecting the talks to take two years.

China is South Korea's largest trading partner, with bilateral trade expected to reach US$300 billion by 2015.

Since 2008, South Korea and China had held a series of joint feasibility studies on a possible free trade deal and exchanged views on sensitive issues.

Agriculture and fisheries are considered to be the most sensitive sectors of the South Korean economy, while China categorizes its manufacturing industries, which include the automobile, machinery and oil sectors, as sensitive.

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Source: Yonhap News (June 27, 2012)  

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