Korea Business Optimistic About Free Trade Agreement with China
luvsmiling, Nov. 12, 2014, 9:21 a.m.
Korea's reliance on China is expected to increase after a bilateral free trade agreement was reached between the two countries. China is currently the No. 1 export destination for Korea, taking up more than a quarter of exports, which is why Korea's top 200 conglomerates have been active in expanding their markets to the world's most populous country. Between 2011 and 2013, their combined sales in China jumped 35 percent to more than US$133 billion. Some analysts are skeptical that Korean companies can cope with China's ever-changing business environment.