According to Yonhap News,
(SEOUL=Yonhap News) The trade ministers of South Korea and China agreed to step up efforts to maximize the effect of the countries' bilateral free trade agreement (FTA), South Korea's government said Sunday.
The agreement to intensify the implementation of the FTA was reached at the G20 trade ministers meeting which kicked off in Shanghai on Saturday, the Ministry of Trade, Industry and Energy said.
During the two-day meeting, Trade and Energy Minister Joo Hyung-hwan and his Chinese counterpart Gao Hucheng agreed to push for a series of joint economic projects, including a campaign to advance into a market in a third country.
China is the world's single largest importer of South Korean goods, accounting for nearly one-fourth of South Korea's total outbound shipments.
The two countries' bilateral FTA went into effect on Dec. 20 last year.
Copyrights Yonhap News. All Rights Reserved.
Source: Yonhap News (Jul. 10, 2016)