South Korea and China have resumed negotiations on the expansion of their free trade agreement(FTA) to include services and investment.

According to South Korea’s Ministry of Trade, Industry and Energy on Wednesday, the 12th round of follow-up negotiations kicked off on Monday for a five-day run in Seoul, involving some 40 officials from the two sides. 

The bilateral FTA took effect in 2015, and the two nations have held eleven rounds of follow-up talks since 2018 to expand the scope of the trade deal to the investment and service sectors. 

In the latest negotiations, the two sides are discussing expanding market access in the service, investment and finance sectors.

A ministry official said the government will engage in negotiations with the aim of striking a deal that lays the groundwork for the further expansion of trade in services and investment between the two nations.