(Photo from Government Information Agency)
Korea will pursue more free trade agreements in the future in order to help Asia’s third-largest economy grow, the country’s top trade official said on November 28.
"We need to push ahead with free trade agreements with the countries which could be helpful to our economy," Trade Minister Kim Jong-hoon said at a forum.
"We are working on feasibility studies of free trade agreements with China, Russia and South American countries," he said.
According to MOFAT, Korea currently has free trade pacts with Chile, Singapore and the European Free Trade Association (EFTA), which is made up of Switzerland, Norway, Ireland and Lichtenstein. It is awaiting ratification of a free trade pact with the United States that was signed on June 30.
Seoul also has a free trade agreement with the Association of Southeast Asian Nations that covers manufactured goods and agricultural products.
Meanwhile, Korea is also negotiating with the European Union, Canada and Mexico for free trade pacts.
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