Deal may facilitate

Deal may facilitate tri-partite agreement with Japan, broader regional partnership

China and South Korea on Wednesday initialed a bilateral free trade agreement as both sides are hoping to increase trade, according to a press release from China's Ministry of Commerce.

The ministry said negotiations have concluded and both sides have confirmed all the details.

"China and South Korea have agreed to work for the official signing of the China-South Korea FTA within the first half of this year. The government of South Korea will implement it as rapidly as possible by getting approval from the parliament," said a press release issued by South Korea's Ministry of Trade, Industry and Energy.