Business News

China, S. Korea to intensify trade talks

Published: Sept. 15, 2012 at 9:04 AM

SEOUL, Sept. 15 (UPI) -- South Korean Finance Minister Bahk Jae-wan said the financial crisis in Europe was underlying a push to speed up talks on free trade with China.

Bahk Saturday announced that Chinese and South Korean policymakers had agreed to put a new emphasis on the trade talks meant to foster cooperation between the trading partners.

Talks on a free trade accord between China and South Korea began in May.

When the talks started, it was expected that a free trade agreement would take about two years to complete, the Yonhap News Agency reported Saturday.

China is South Korea's largest trading partner. Trade between the two countries is projected to reach $300 billion by 2015.

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