Trade minister seeks input from tourism, media firms as Seoul pushes to widen China FTA
Trade Minister Park Jung-sung met with Korean entertainment and tourism companies Friday to hear their views as Seoul negotiates with Beijing to expand the two countries’ free trade agreement (FTA) to services and investment, the Ministry of Trade, Industry and Resources said. Park held the meeting at the CJ ENM Center in western Seoul. Companies from the film, streaming, performing arts, gaming…
Trade Minister Park Jung-sung convened a meeting with Korean entertainment and tourism enterprises on Friday, as Seoul endeavors to broaden the existing free trade agreement (FTA) with China to encompass services and investment sectors. The Ministry of Trade, Industry, and Resources reported that Park held the discussion at the CJ ENM Center in western Seoul. Representatives from the film, streaming, performing arts, gaming, and tourism industries participated in the meeting.
The Korea-China FTA, which entered into force in December 2015, primarily focuses on trade in goods. However, in 2018, both nations initiated follow-up negotiations to further liberalize their service and investment markets. The Ministry explained that the meeting aimed to gather insights on how Korean content and tourism companies are faring in China's service market, as well as the challenges they encounter.
Additionally, the goal was to collaborate with the industry to devise a negotiating strategy that would enable Korean firms to thrive in sectors where they possess a competitive edge.
During the meeting, the participating firms expressed that Korean content is highly competitive within China and enjoys robust demand. Nevertheless, they pointed out that while consumer popularity for Korean content has been strong, it has not yet translated into actual commercial success.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
