Today, Minister Yoo and Secretary Lopez are pleased to announce that the Republic of Korea and the Republic of the Philippines confirmed their common understanding to pursue a bilateral Free Trade Agreement between the two countries.

The two countries have agreed to put their best effort to conclude the negotiations in time for the 2019 ROK-ASEAN Commemorative Summit scheduled in November 2019.

The two countries will commence the negotiations upon the completion of required domestic procedures.♦

Date of Release: 17 April