Lone Star Funds, which is in litigation against the South Korean government at the International Centre for Settlement of Investment Disputes, suggested US$870 million as a concession.
South Korea has expressed intention to step up the pace of the negotiations on the proposed Philippines-Korea Free Trade Agreement (FTA), the Department of Finance (DOF) said in a statement.
In the wake of the successful signing of the world’s largest trade deal - RCEP that encompasses a third of the global economy, a higher level trilateral free trade agreement(FTA) among China, Japan and South Korea is likely to be reached sooner than expected.
South Korea will hold the fourth round of free trade talks with Cambodia this week as part of efforts to diversify its export portfolio in Southeast Asia.
The two sides will hold discussions on five categories — goods, intellectual property rights, trade promotion, anti-corruption and cooperation.
The Indonesian government is pursuing a series of trade deals with non-traditional partners in Africa, Latin America and the Middle East in an effort to navigate international trade during and after the COVID-19 pandemic.
South Korea and Uzbekistan agreed to announce the launch of trade talks at an opportune time in an effort to expand bilateral trade, the government said.
In a major speech on Wednesday, Chinese President Xi Jinping talked up his country’s plans for playing a greater role in global trade, without mentioning ongoing tensions with the US.
South Korea and Mongolia will lower tariffs on some products starting next year, as Ulaanbaatar joined a regional trade pact known as the Asia-Pacific Trade Agreement.
In September this year, India and South Korea resumed renegotiation of their landmark Comprehensive Economic Partnership Agreement (CEPA) that played a key role in spurring trade between the two sides and boosted bilateral ties.
Indonesia is set to sign a trade agreement with South Korea and seeks ensure that a larger deal at the regional level will also be inked, as the country focuses on increasing overseas market access in the hopes of lifting its economy out of the mire of the pandemic.
South Korea and China on Monday launched the ninth round of talks with China to bolster ties in the service and investment fields as part of their bilateral free trade agreement (FTA), which went into effect five years ago.
The soon to be signed agreement was delayed because of Korean political concerns that have been removed by Israel-UAE normalization.
Korea requested to join the Pacific Alliance trade bloc, which is also made up of Chile, Colombia, Mexico and Peru.
Korean Deputy Foreign Minister will visit Mexico for talks with his counterpart and other officials over economic cooperation, including the resumption of bilateral free trade talks.
Cambodia and the Republic of Korea (ROK) have pledged to finalise their Free Trade Agreement (FTA) negotiations by the end of the year to increase trade and investment between the two countries.
India will seek concessions for its rice exports to South Korea as Seoul levies a whopping 513% tariff on imported rice and buys rice from only five countries under its tariff rate quota regime.
Cambodia Prime Minister Hun Sen committed to gain an advantage in upcoming trade deals with China, South Korea, Japan and other nations.
South Korean exporters need to be on alert as India has been strengthening trade remedies such as anti-dumping measures to protect its industries, said a local trade association.
Finance Minister Hong Nam-ki said that South Korea seeks to launch formal negotiations for a bilateral free trade agreement with Uzbekistan by the end of this year. The minister unveiled the plan during a meeting with economy-related ministers in Seoul.