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S Korea Needs FTAs To Make Economy More Efficient: Trade Official

Friday, May 21, 2010

TOKYO (Nikkei)--South Korean Deputy Trade Minister Lee Hye-min said Friday that South Korea is actively pursuing free trade agreements to improve the efficiency of its economy.

At the 16th International Conference on the Future of Asia, hosted by The Nikkei through Friday, Lee said Seoul intended to conclude FTAs with the U.S. and the EU as quickly as possible. He said South Korea's trade with current FTA partners accounts for 14% of its total trade volume, but that the government hopes to raise the figure to 50%.

Titles of speakers, names of companies, etc., were correct as of the time when the forum was held.