Top trade officials from South Korea and the U.S. held talks in Seoul on Friday, ahead of the tenth anniversary of the bilateral free trade agreement(FTA) that took effect in March 2002.

Trade Minister Yeo Han-koo and U.S. Trade Representative(USTR) Katherine Tai convened the South Korea-U.S. FTA joint committee for the sixth time and checked up on the deal’s implementation. The previous five rounds were held between 2012 and 2020.

The officials assessed that the FTA has served to promote bilateral trade relations, and agreed to make joint efforts so that the trade deal continues to contribute towards strengthening the alliance and future-oriented partnership.

According to the ministry, trade between the two sides expanded 29 percent from 101-point-nine billion dollars in 2012 to 131-point-six billion dollars last year.

The two sides also discussed establishing a new channel to consult on trade issues pertaining to supply chains, the digital sector and climate change, agreeing to reinforce strategic partnerships in respective areas.

This is the first visit to South Korea by the U.S. trade representative since November 2010 and the first by a senior economic or trade official under the Joe Biden administration.