Trade, Industry and Energy Minister Paik Un-gyu says the government's key principles will be national interest and a balance of interests in its negotiations with the U.S. on amending their bilateral free trade agreement(FTA).
 
Speaking to lawmakers Thursday during the National Assembly’s inspection of the trade ministry, Paik said the ministry will thoroughly address pending bilateral trade issues with the U.S. and China as well as growing signs of protectionism.
 
Last Wednesday, South Korea and the U.S. essentially agreed to launch negotiations on amending their trade deal. The talks are likely to begin early next year given that both countries need to prepare.
 
Paik said the government will continue to expand communication and cooperation with China while continuing to support South Korean companies affected by China’s trade retaliation over THAAD missile defense.

He also unveiled plans to expand FTA networks with emerging economies, including Eurasia, the Association of Southeast Asian Nations and India.