The agreement became official on November 10, 2014.  South Korean President Park Geun-hye said her government would try to implement the agreement as quickly as possible.  Negotiations on the agreement began in May 2012.  There were 12 roundtables until July 2014.  With regard to market opening, China and South Korea will treat financial firms on the other, simplifying the authorization process and reducing barriers to access to financial markets on both sides. The agreement also provides that Korean construction companies can allocate cooperation projects in the Shanghai Pilot Free Trade Area, without being limited by the share of foreign investment (more than 50% foreign investment). The Chinese side plans to allow Korean travel agencies to recruit and visit South Korea in China.  In addition, China and South Korea also promised that, after the signing of the agreement, they would continue to negotiate trade in services under the negative list model and that they would conduct investment negotiations on the basis of equality and equality before access and the negative list model. [Citation required] On June 1, 2015, China and South Korea signed a free trade agreement that came into force on December 20, 2015.   The China-South Korea Free Trade Agreement covers 17 sectors of trade in goods, trade in services, investment and rules, including e-commerce, competition policy, public procurement, the environment and other “21st century economic and trade issues”. With regard to tariff concessions, after the China-Korea free trade agreement, Zero Duty Chinese products will reach 91% of the tax target and 85% of imports after a transitional period of up to 20 years, and South Korean zero-duty products will reach 92% of the tax target, 91% of the value of imports. In addition, a total of 310 items, including products manufactured in the North Korean industrial park of Kaesong, have acquired Korean-origin qualification and can benefit from tariff preferences as soon as the China-Korea free trade agreement comes into force.
Appendix 2-A– (English-Chinese) Appendix 2-A– (English – Chinese) Appendix 2-B—-English — Appendix 3-A-1– (English – Chinese) Appendix 3-A-2– (English – Chinese) Appendix 3-B–(English – Chinese) Appendix 3-C-(English – Chinese) Appendix8-A-1–(English- Chinese) Appendix 8-A-2– (English – Chinese) Appendix 8-B–(English-Chinese) Appendix 8-C—(English – Chinese) August 3, 2020, the third joint committee of the China-Korea Free Trade Agreement was conducted by video conference. The Chinese delegation consists of the Ministry of Commerce, the Committee on Development and Reform, the Ministry of Finance, the Ministry of Agriculture and Rural Affairs, the General Administration of Customs, the General Administration of Market Supervision, the Council for the Promotion of International Trade, the City of Weihai, Shandong Province, etc. , as well as the Ministry of Industry, Trade and Energy, the Ministry of Finance and Economy, the Ministry of Finance and Economy, attended the meeting a Korean delegation from the Ministry of Agriculture, Food and Rural Affairs.  President Hu Jintao and former ROK President Roh-Moo-Hyun announced in November 2004 the launch of an informal feasibility study on the China-ROK free trade area.