China South Korea Photo:VCG
The 13th round of the second-phase negotiations on the China-South Korea Free Trade Agreement (FTA) was held in Beijing from Monday to Friday, during which both sides stepped up the pace of talks and made positive progress, according to China's Ministry of Commerce (MOFCOM).
The two sides held in-depth and constructive discussions on implementing the important consensus reached by the two heads of state and accelerating the negotiations, focusing on issues including cross-border trade in services, investment, financial services rules and negative lists, and achieved positive progress, the ministry said in a statement published on Friday.
The FTA entered into force on December 20, 2015. Building on the original agreement, the two countries are seeking a higher level of opening-up in trade in services and investment, with the aim of upgrading and strengthening bilateral economic and trade cooperation, per the ministry.
The progress came after South Korean President Lee Jae-myung paid his first visit to China earlier this month, a trip he said delivered results that exceeded expectations. During the visit, the two sides witnessed the signing of 15 cooperation documents in areas including scientific and technological innovation, the environment, transportation, and economic and trade cooperation.
The progress was both expected and encouraging, indicating that both sides are steadily translating the consensus reached by the two countries' heads of state into concrete outcomes, Lü Chao, an expert on the Korean Peninsula at the Liaoning Academy of Social Sciences, told the Global Times on Friday.
According to a statement from South Korea's Ministry of Trade, Industry and Resources, a delegation of about 30 members from both countries will participate in the FTA negotiations. The ministry said the aim is to make meaningful progress in the follow-up negotiations within the year, and both sides plan to accelerate the negotiations on the agreement text and market opening in three key sectors - services, investment, and finance - during this round of talks.
Against the backdrop of improving political, diplomatic and economic ties, the latest round of talks is built on a solid practical foundation and sends a positive signal, Lü said. He noted that a defining feature of this round is a further shift in China-South Korea economic cooperation from traditional goods trade toward services trade and higher value-added sectors - an important step forward that offers clear mutual benefits for both sides.
China and South Korea maintain close economic and trade ties, with deeply intertwined industrial and supply chains. New forms and models of cooperation have continued to emerge, gradually becoming new highlights and fresh growth drivers for bilateral economic and trade cooperation, a MOFCOM spokesperson told a press briefing on January 8.
China has remained South Korea's largest trading partner for many years, while South Korea is China's second-largest trading partner, in terms of individual countries. According to official data, bilateral trade between the two countries reached $298.9 billion from January to November 2025.
China and South Korea launched the second-phase negotiations on the FTA in March 2018. Since then, the two sides have held 12 rounds of talks and multiple meetings to negotiate market opening in services and investment.
