S. Korea, Japan to hold working-level talks on free trade deal

SEOUL, Dec. 16 (Yonhap) -- South Korea and Japan will hold a working-level
meeting next week to look into ways to resume stalled negotiations on a bilateral
free trade agreement (FTA), Seoul's trade ministry said Wednesday.

Both sides launched their free trade talks in December 2003, but negotiations
have been blocked by Japan's objection to liberalizing its agriculture market and
South Korea's reluctance to further open its automobile market.
The two sides held six rounds of talks up until November 2004, but the
negotiations have remained stalled for over four years as South Korean
negotiators believe Japan is unwilling to open its agriculture and fisheries
sectors wider.
There is also strong concern in South Korea that such a deal would expand its
trade deficit with the neighboring country.
But the two countries have held three rounds of working-level talks on a possible
resumption of the negotiations since June, 2008.
Asia's fourth-largest economy has free trade agreements with Chile, Singapore and
the European Free Trade Association, as well as a partial pact with the
Association of Southeast Asian Nations. Seoul is also seeking trade deals with
Canada, India and Mexico.
A free trade pact with India is set to take into effect from Jan. 1. South Korea
is seeking to sign a similar deal with the European Union (EU) before March next
year. Also, the nation is seeking parliamentary approval for a free trade deal
with the United States.
sam@yna.co.kr
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