South Korea's government trade agency Wednesday opened a center in Beijing to help small- and medium-sized South Korean companies make inroads into the Chinese market as the two nations are set to sign a bilateral free trade agreement.
After declaring the "substantial conclusion" of their free trade talks last November, South Korea and China are expected to formally sign the deal within the first half of 2015, in a move that will further deepen their economic ties.
The Korea Trade-Investment Promotion Agency set up the "Korea Business Plaza" center in Beijing, which will help small firms better understand Chinese business laws and practices when they start businesses in China.
In a statement, Kim Jae-hong, KOTRA's president, said the center aims to "effectively support our companies and maximize the effect of the Korea-China FTA."
South Korean Ambassador to China Kim Jang-soo said in a congratulatory remark that the free trade deal with China will provide "an opportunity for Korea to secure its second local market."
Similar centers were also set up by KOTRA in three other Chinese cities, including Shanghai and Chengdu. (Yonhap)
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