Home > Business > Economy

Korea, China to hold talks on expanding FTA in service, investment and finance

Published: 15 Apr. 2025, 06:00

KIM JU-YEON
[email protected]

Korea's Minister of Trade, Industry and Energy Ahn Duk-geun, right, shakes hands with China's Minister of Commerce Wang Wentao on March 29, ahead of the 13th Trilateral Economic and Trade Ministers' Meeting between Korea, China and Japan in Seoul. [YONHAP]

Korea and China will hold a round of negotiations to expand their existing FTA in the service, investment and finance sectors starting Tuesday in Beijing, the Ministry of Trade, Industry and Energy said on the same day.

Authorities will discuss opening markets and making amendments to the agreement regarding the three sectors over four days, the ministry said.

Over 40 representatives from Korea and China will be present, including Kwon Hye-jin, the Trade Ministry’s director-general for FTA negotiations, and the Chinese Commerce Ministry's director-general Lin Feng.

“We plan to actively engage in the negotiations to ensure that this agreement brings tangible benefits to our service providers,” a trade ministry official said in a press release.

The talks are the 11th of its kind since Seoul and Beijing implemented their bilateral FTA in December 2015.

The 10th meeting took place in Seoul in January, where officials discussed expanding the trade agreement in the service and investment sectors.

The upcoming meeting comes after Korea announced its intent to strengthen ties with Japan and China to counter U.S. President Donald Trump's tariffs.

The government said on Wednesday that a trilateral FTA will be established between Seoul, Beijing and Tokyo "at the earliest possible moment" while rolling out already-sealed agreements.

BY KIM JU-YEON [[email protected]]