As the 10th anniversary of the China-South Korea Free Trade Agreement (FTA) approaches, bilateral trade between the two nations has surged to unprecedented levels, cementing their economic interdependence. Data from the Chinese Ministry of Commerce reveals China remains South Korea's largest trading partner, while South Korea holds its position as China's second-largest partner – a testament to the FTA's transformative impact since its 2015 implementation.
The milestone coincides with South Korea's preparations to host the APEC Leaders' Meeting in Gyeongju from October 31 to November 1. The historic city, located 270 km southeast of Seoul, will welcome leaders from APEC's 21 member economies to discuss regional economic integration – a theme resonating strongly with the China-South Korea trade success story.
Analysts highlight how the FTA eliminated tariffs on 91% of Chinese imports and 92% of South Korean goods over two phases, fueling growth in semiconductors, electric vehicles, and cultural exports. "This partnership demonstrates how strategic trade frameworks can drive mutual prosperity," noted Seoul-based economist Park Ji-hoon.
As APEC members convene, attention turns to emerging opportunities in green technology and digital trade. Recent collaborations between Chinese renewable energy firms and South Korean battery manufacturers suggest new growth frontiers, while cross-border e-commerce platforms report 35% annual growth since the FTA's implementation.
