Latest news with #KwonHye-jin
Korea Herald
07-07-2025
- Business
- Korea Herald
S. Korea, Britain set to hold 5th round of follow-up negotiations to improve FTA
South Korea and Britain were set to kick off a fresh round of follow-up negotiations aimed at upgrading their bilateral free trade agreement to further facilitate trade and investment between the two countries, Seoul's industry ministry said Monday. Trade delegations from the two countries were set to hold the fifth round of negotiations in Seoul from later in the day, seeking to ease regulations on product origins and introduce new rules in areas of supply chain and digital trade, according to the Ministry of Trade, Industry and Energy. The trade talks are scheduled to run through Friday. In this week's meeting, the countries will exchange their opinions on 16 areas, including services, investment, digital trade, product origin regulations and government procurement. Seoul and London implemented their bilateral FTA in 2021, following Britain's withdrawal from the European Union. The negotiations to modernize the trade agreement began in 2023. "Amid intensifying global trade protectionism, the importance of free trade agreements is growing every day," said Kwon Hye-jin, director general for FTA negotiations at the ministry. "By improving the Korea-Britain FTA, we hope the two countries can jointly respond to the global supply chain risk and expand cooperation in trade and investment in major sectors," she added. (Yonhap)
Korea Herald
13-05-2025
- Business
- Korea Herald
S. Korea, Malaysia set to hold 9th round of FTA negotiations in Kuala Lumpur
South Korea and Malaysia were set to hold their ninth round of negotiations for a bilateral free trade agreement on Tuesday, as the two sides seek to broaden their trade portfolio and enhance cooperation, Seoul's industry ministry said. The latest round of talks for an FTA was scheduled to kick off in Kuala Lumpur for a three-day run, involving some 70 trade officials from the two countries, according to the Ministry of Trade, Industry and Energy. The countries are seeking to make progress in eight separate areas, including market access for goods and services, as well as economic cooperation, the ministry added. Following a five-year hiatus, the two nations agreed to resume their FTA negotiations in March 2024. South Korea already has an FTA with the Association of Southeast Asian Nations, but it is seeking to forge separate free trade deals with individual members, including Malaysia. "A bilateral FTA with Malaysia, a promising market in the ASEAN region, will greatly help Korean companies boost their competitiveness in the global market and mitigate uncertainties amid growing risks sparked by US tariff measures and the spread of global trade protectionism," Kwon Hye-jin, director general for FTA negotiations at the ministry, said. "The government will actively engage in discussions with Malaysia to conclude the FTA negotiations as soon as possible," Kwon added. (Yonhap)
Korea Herald
08-04-2025
- Business
- Korea Herald
S. Korea, Malaysia set to hold 8th round of FTA negotiations in Seoul
South Korea and Malaysia were set to hold their eighth round of negotiations for a bilateral free trade agreement Tuesday, as the two sides seek to broaden their trade portfolio and enhance cooperation, Seoul's industry ministry said. The latest round of talks for an FTA was scheduled to kick off in Seoul for a four-day run, according to the Ministry of Trade, Industry and Energy. The two sides plan to focus on making progress in negotiations across 10 sectors, including goods, services, investment and economic cooperation, the ministry added. Following a five-year hiatus, the two nations agreed to resume talks on a free trade deal in March 2024. South Korea already has an FTA with the Association of Southeast Asian Nations, but it is seeking to forge separate free trade deals with individual members, including Malaysia. "We will work to swiftly strike an FTA with Malaysia, one of our major partners in the ASEAN region, to improve conditions for South Korean companies' operations in the country and remove trade uncertainties," Kwon Hye-jin, director general for FTA negotiations at the ministry, said. Kwon stressed the importance of cooperation with ASEAN countries, noting South Korea's exports to the region have surpassed shipments to China for the second consecutive month in March amid an expansion of global trade protectionism. (Yonhap)
Korea Herald
17-02-2025
- Business
- Korea Herald
S. Korea, Malaysia set to hold 7th round of FTA negotiations in Kuala Lumpur
South Korea and Malaysia plan to hold their seventh round of negotiations for a bilateral free trade agreement Monday, as the two sides seek to broaden their trade portfolio and enhance cooperation, Seoul's industry ministry said. The latest round of talks for an FTA was scheduled to kick off Monday for four days in Kuala Lumpur, according to the Ministry of Trade, Industry and Energy. The two sides plan to focus on making progress in negotiations across 11 sectors, including goods, services, investment and economic cooperation, the ministry added. Following a five-year hiatus, the two nations agreed to resume talks on a free trade deal in March 2024. South Korea already has an FTA with the Association of Southeast Asian Nations, but it is seeking to forge separate free trade deals with individual members. "We will work to swiftly strike an FTA with Malaysia, one of our major partners in the ASEAN region, as the significance of free trade deals is growing amid the fast-changing global trade environment from the expansion of protectionism," said Kwon Hye-jin, director general for FTA negotiations at the ministry. (Yonhap)
