Impact of China-South Korea free trade agreement

Global Business

China and South Korea have signed a free trade agreement, that will remove most trade barriers between the world’s first and seventh largest exporters. CCTV’s U-Jean Jung takes a look at what this means for South Korea’s automobile and service industries.

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  • On Monday, China and South Korea signed a free trade agreement that will remove tariffs on over 90 percent of goods in the next twenty years. At a joint press conference following the signing in Seoul, China’s Commerce Minister Gao Hucheng said this will help strengthen economic ties between the two neighbors.

Logistics and shipping to benefit from deal

South Korean businesses are looking to cash in once the new free trade deal with China goes into effect, with distribution hubs likely to play a vital role in increasing trade. CCTV’s Shane Hahm takes a closer look at how the impact of the FTA on the ground in South Korea.

Einer Tangen on China-South Korea trade agreement

For more on the newly signed China-South Korea trade agreement, Elaine Reyes spoke with current affairs commentator, Einer Tangen.