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According to Yonhap News,

(SEOUL=Yonhap News) South Korea, China and Japan on Wednesday agreed to cooperate on promoting a trilateral free trade pact for mutual economic growth on the sidelines of a summit of their leaders in Tokyo.

In a joint statement adopted in Japan, the business lobby groups representing the three countries agreed to work together to facilitate the forging of a free trade pact and a comprehensive economic partnership connecting the three parties, the Korea Chamber of Commerce and Industry (KCCI) said in a statement.

In a meeting with Sadayuki Sakakibara, chairman of Keidanran or the Japan Business Federation, and Jiang Zengwei, chairman of the China Council for the Promotion of International Trade (CCPIT), KCCI Chairman Park Yong-maan said the three economic groups need to collaborate in future business opportunities on the Korean peninsula, the statement said.

South Korean companies such as Hyundai Group, which operated ferry-based travel packages to a scenic mountain in North Korea, are preparing to resume business operations in the North following the historic inter-Korean summit last month.

The KCCI chairman also called on the three business groups to bring up and discuss common economic issues in the fields of energy, infrastructure and high-end technology for the benefit of all sides, it said.

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Source: Yonhap News (May 09, 2018)