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S. Korea, China to Set Up Online Commerce Committee amid COVID-19 Pandemic

Written: 2020-08-03 13:10:00Updated: 2020-08-03 13:55:50

S. Korea, China to Set Up Online Commerce Committee amid COVID-19 Pandemic

Photo : YONHAP News

South Korea and China have agreed to set up a committee on online commerce under their bilateral trade deal to promote non-contact business activities amid the COVID-19 pandemic.

The discussions were held during a virtual meeting of the two sides' related ministries to update and expand the scope of their bilateral free trade agreement(FTA), which took effect in December 2015.

According to the Ministry of Trade, Industry and Energy on Monday, Seoul also requested that Beijing protect the intellectual rights of its exporters.

The two sides agreed to accelerate negotiations to lift more barriers in the service and investment segments.

On the back of the bilateral FTA, trade between South Korea and China jumped 18-point-two percent in 2018, compared to 2015.

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