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South Korea mulling separate FTAs with more ASEAN states

Christian Fernsby |
South Korea is exploring the possibility of forging individual free trade deals with more ASEAN member states, a senior trade official has said, in a move to further boost growing economic ties with the region.

Topics: SOUTH KOREA    FTA    ASEAN   

South Korea has a free trade agreement with the 10-member Association of Southeast Asian Nations, but Seoul has been pushing for separate free trade deals with individual members of the Southeast Asian bloc.

"We are reviewing the possibility of free trade agreements" with some of five countries Brunei, Cambodia, Laos, Myanmar and Thailand as part of efforts to promote bilateral economic cooperation, the official said in a recent brief comment to Yonhap News Agency.

The official, who is in charge of South Korea's free trade policy at the Ministry of Trade, Industry and Energy, declined to elaborate on specific countries that could be shortlisted for potential free trade deals with South Korea.

ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Thailand, Singapore and Vietnam.