French Minister of the Economy, Finances and Industry Arnaud Montebourg says he will request the European Union(EU) to review the South Korea-EU free trade agreement.

The French minister claimed that South Korean auto firms are engaging in unfair competition in the French market following the adoption of the bilateral trade accord.

According to French media, French automakers are shutting down their plants due to poor business performances while Korean cars have posted growth of nearly 50 percent in the French market. The media noted the share of Korean autos in the French market had exceeded three percent.

French auto manufacturers have seen hundreds of millions of euros in losses, after its key markets in southern European countries became unsteady due to the euro zone’s fiscal crisis.