On July 13, 2022, the Ministry of Commerce of China and the Ministry of Industry, Trade and Energy of South Korea held a meeting of chief negotiators for the second phase of the free trade agreement negotiations via video. The two sides conducted in-depth consultations on issues such as cross-border service trade, investment and financial services, and negative list market access issues, and made positive progress.
The two sides believe that China and South Korea are important economic and trade partners to each other. Actively promoting the second phase of the China-South Korea Free Trade Agreement negotiations and achieving substantial results at an early date will enhance the level of opening up and cooperation in bilateral service trade and investment, further stimulate the trade potential of the two countries, and push China-South Korea economic and trade relations to a new level.