What Korean exporters need to boost their occupation rate in China market

Will all these be possible?

According to DBS, President Park completed a 4-day trip to China on June 30th, her first official visit to Beijing after taking office in February.

During her meetings with China’s top leaders, the two sides have agreed to push forward the Korea-China free trade negotiation, extend the KRW-CNY currency swap line, and strengthen cooperation in the areas of green energy, services, high-tech and etc.

Here's more from DBS:

China is currently Korea’s largest trade partner, accounting for 25% of Korea’s exports and 15% of its imports. Aimed for an establishment of free trade area across Northeast Asia, the official negotiations for the China-Korea FTA and China-Japan-Korea FTA have both been initiated last year.

A removal of the cross-border tariff and non-tariff trade barriers will help Korean exporters to boost their occupation rate in China’s domestic consumer market.

By expediting the signing of the Korea-China FTA, Korean firms could be provided with na timing opportunity to gain market share in China ahead of the Japanese competitors.

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