China, S. Korea seek free trade
The South Korean Institute for International Economic Policy and the Development Research Center of
China signed a memorandum of understanding in Beijing on Sunday (March 20) aimed at carrying out a feasibility study on establishing a free trade zone between the two countries.
The countries will launch the study later this year.
China is South
Korea's largest
trading partner, while South
Korea ranks as
China's fourth largest
trading partner.
China is the second and South
Korea the third largest economy in Asia. The bilateral trade between the two countries exceeded $80 billion in 2004.