China-Korea FTA Talks Speed Up
The government has begun formulating a strategy for follow-up negotiations under the Free Trade Agreement (FTA) to address difficulties facing South Korea’s content and tourism industries, which have struggled to generate profits despite strong demand in the Chinese market.The Ministry of Trade, Ind
South Korea's Ministry of Trade, Industry and Energy convened a roundtable discussion on October 30 to address challenges faced by the country's content and tourism sectors in the China-Korea Free Trade Agreement (FTA). The meeting, chaired by Minister for Trade Negotiations Park Jong-sung, brought together representatives from the film, online video service, performance, gaming, and tourism industries to share their insights with government officials.
Industry participants highlighted that while Korean content continues to enjoy high demand in China, structural limitations have prevented it from translating into profits or successful exports. The major obstacle, according to these companies, is regulatory uncertainty on the part of Chinese authorities, which makes commercialization difficult.
They specifically requested that the follow-up negotiations under the China-Korea FTA focus on easing discriminatory regulations and improving transparency and efficiency in content review and licensing procedures.
In response to these concerns, the government plans to bolster its negotiating position with China. Industry players also emphasized the urgency of implementing institutional measures beyond mere market opening to improve the overall business environment. Minister Park Jong-sung reiterated the government's commitment to incorporating industry opinions into the follow-up negotiations on services and investment under the China-Korea FTA.
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