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 companies in the entertainment, tourism, film, streaming, performing arts, gaming, and tourism sectors on Friday at the CJ ENM Center in western Seoul. The purpose of the meeting was to gather input from these industry representatives as Seoul seeks to expand the Korea-China Free Trade Agreement (FTA) to include services and investment, according to the Ministry of Trade, Industry and Resources.
The Korea-China FTA, which entered into effect in December 2015, primarily focuses on trade in goods. In 2018, the two nations commenced follow-up negotiations to further open their service and investment markets. The meeting aimed to understand the challenges and opportunities Korean content and tourism companies face in China's service market, as well as to collaboratively develop a negotiating strategy that would aid Korean firms in entering sectors where they possess competitive advantages.
Attendees of the meeting expressed that Korean content is highly competitive in China, with a strong demand for it. However, they also noted that this consumer popularity has not yet translated into tangible economic benefits.
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.
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