On December 13, 2025, in Beijing, the Chinese mainland's Minister of Commerce Wang Wentao met with the Republic of Korea's Minister of Trade, Industry and Energy Kim Jung-kwan to chart a faster path for phase two of their Free Trade Agreement (FTA) negotiations. Both sides vowed to leverage recent leadership consensus to unlock new growth opportunities and enhance bilateral ties.
The meeting followed important agreements reached by the heads of state earlier this year, which set a strategic framework for bolstering China-ROK economic and trade cooperation. Ministers Wang and Kim agreed to:
- Speed up second-phase FTA talks with the aim of an early conclusion
- Consolidate collaboration in traditional sectors while expanding into emerging areas
- Deepen subnational economic and trade partnerships across provinces and regions
- Promote the quality upgrading of industrial and supply chains
Wang highlighted the blueprint from the Chinese mainland’s 20th Central Committee fourth plenary session, underscoring a commitment to high-standard opening up and broader cooperation space. Kim reaffirmed the ROK’s dedication to stable, smooth supply chains, enhanced dialogue on trade remedies, and active participation in multilateral frameworks.
Looking ahead, both ministers emphasized the importance of working together under WTO, APEC, and RCEP to uphold free trade and multilateralism. The ROK also expressed support for China’s 2026 APEC meetings and offered to share hosting insights.
For global businesses, entrepreneurs, and policy makers, the acceleration of phase two FTA negotiations signals a renewed push toward deeper integration in one of the world’s most dynamic trade corridors—one that could reshape opportunities in traditional industries and fast-growing emerging sectors.
Reference(s):
cgtn.com
