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Korea aims for five-fold boost under Colombia accord

Monday, June 25, 2012

President Lee Myung-bak said he expects trade between South Korea and Colombia to jump five-fold over the next five years if the two countries implement a free trade agreement, saying the deal would create a win-win situation for both sides.

Lee arrived in Bogota on Saturday for a three-day visit that made him the first South Korean president to travel to the wartime ally that fought alongside the South during the 1950-53 Korean War.

South Korea and Colombia have been in the final stages of free trade negotiations that were launched in 2009. Officials said the two sides are close to a deal.

Source: The Korea Herald