Seoul: Seoul and Beijing have resumed their negotiations to expand their existing free trade agreement (FTA) to include the service and investment sectors, Seoul's trade ministry said Thursday. The 10th round of talks began on Wednesday in Seoul and will run for three days.

According to Yonhap News Agency, the Ministry of Trade, Industry and Energy confirmed that the two countries implemented their bilateral FTA in December 2015. This agreement initially focused on removing major tariffs on products. Since its implementation, Seoul and Beijing have held nine follow-up meetings between 2018 and 2020, specifically addressing investment and service areas.

Kwon Hye-jin, South Korea's chief negotiator, emphasized the significance of these talks in the context of a weakening multilateral trade system. "The government aims to hold regular follow-up talks with China to maintain the momentum in the negotiation," she stated. The ongoing discussions are seen as critical to enhancing the bilateral trade relationship between the two nations.