China-South Korea FTA to kick in before Christmas

South Korea’s Park Geun-hye and China’s Xi Jinping at FTA signing

China-South Korea FTA: After three years of negotiations, the free trade agreement between South Korea and China will come into force on 20 December. The agreement is  expected to eliminate tariffs on roughly 90% of goods between the two countries over the next 20 years. China is South Korea’s  largest trading partner of South Korea, with trade turnover between the two countries in 2014 amounting to about $ 290bn