S. Korea, ASEAN to hold talks on investment

SEOUL, April 6 (Yonhap) -- South Korea and the Association of Southeast Asian Nations (ASEAN) will hold talks in Thailand this week to hammer out differences over bilateral investment, an issue that has hampered the finalization of a full free trade accord, Seoul officials said Monday.

The talks between South Korea and the 10-nation economic bloc will kick off in
Bangkok on Tuesday and conclude Wednesday, according to the Ministry of Foreign
Affairs and Trade.
South Korea and ASEAN have been in negotiations to complete free trade talks on
four accords, pertaining to merchandise, services, investment and dispute
settlement.
The merchandise agreement took effect last year, and the deal on services will be
enforced from May.
In February this year, Thailand, an ASEAN member, joined the free trade deal
after being left out of the process due to disagreements.
ASEAN is South Korea's fifth-largest trading partner, with bilateral trade
reaching US$53.5 billion in 2005.
South Korea currently has free trade agreements with Chile, Singapore, and the
European Free Trade Association. A free trade deal with the United States is
awaiting parliamentary ratification.
Seoul is also seeking similar trade deals with the European Union, Canada, India
and Mexico.