Korea-China Trade Minister Meeting
South Korean Trade Minister Kim Hyun-chong and Chinese Commerce Minister Zhong Shan met with each other on June 27 in Beijing to discuss more bilateral economic cooperation.
At the meeting, the South Korean trade minister proposed a high level of service market opening and more investor protection in connection with the ongoing follow-up negotiations for the Korea-China FTA. Kim said such measures would enhance both countries’ service industry competitiveness, create jobs and contribute to qualitative economic growth.
In response, the Chinese commerce minister said that China is well aware of the need for more economic integration between the two countries and it would actively cooperate for productive results in the negotiations.
The South Korean trade minister also asked the Chinese government to promptly deal with pending trade issues, such as its ban on group tours to South Korea and the Lotte Mart issue, with the relationship between the two countries improving past the THAAD conflict. The Chinese commerce minister mentioned that the Chinese government would make more efforts in order to address the matters.