Trade officials from ASEAN and six dialogue partners are in Busan this week to revive a regional free trade deal that has nearly stalled.
The week-long meeting is for the Regional Comprehensive Economic Partnership (RCEP) and aims to get players back to the table after three years of negotiations.
There are 10 Asean member nations and six free trade agreement (FTA) partners, Australia, China, India, Japan, New Zealand and South Korea, participating in the talks aimed at forging closer economic integration between the participating countries.
It is widely believed that China, which is not in the recently passed, American-Japanese led TPP, will push for the conclusion of the RCEP.
“We are not sure what the outcome will be at this stage, but we hope there will be good progress. Expectations are high,” a Malaysian official said.
“This is the last meeting for the year. This is an important and critical round as we will be reporting to the leaders at the Asean Summit next month,” he added.
The Latest Haps
Korea Post in Busan has enacted a special mail period up until the 26th because of Seollal, the Korean Lunar New Year, and recently began emergency operations.
The strongest cold wave this winter has continued to grip the Busan and Gyeongnam area.
The obesity rate among Koreans under the age of six doubled from 2008 to 2015, with the rate rising from 1.4 percent to 2.8 percent. This according to the 2016 Obesity White Paper, an annual report prepared by the National Health Insurance Service.
Busan-EFM’s 8th Anniversary Special Program “Wanted: The eight DJs” are looking for applicants.
A Korean student’s videos tackling UK slang and dialects has been racking up thousands of Facebook and YouTube views.
Estonian Trio I Wear* Experiment will be performing in Busan as part of their Korean Tour at the Vinyl Underground on January 7th, 2017.
The East Busan Tourism Complex’s theme park blueprints have finally been revealed this week.
Located behind the beach road in Daebyeon, this restaurant offers a great Korean cutlassfish and anchovy menu.
HQ Gwangan has announced that the bar will be closed this week for renovations.
Yellow in the Box, a specialty Philly Cheese Steak sandwich company, is holding their grand opening today at Lotte Department Store’s Seomyeon branch.
Busan City is holding the “2017 Winter Travel Season Program – Morak Morak Busan Winter Story”, where tourists can enjoy eateries at traditional markets and hot springs in Busan through January 30.
In celebration of 2018 PyeongChang Winter Olympics G-1 anniversary, the Korea Tourism Organization and Gangwon Province are hosting a ‘K-Drama Festa in PyeongChang’ on February 18 at Pyeongchang’s Yongpyong Dome.
Infielder for the Lotte Giants Hwang Jae-gyun has decided to leave the Korean Baseball Organization to challenge the Major Leagues.
The sports ministry said that South Korea plans to spend 937.2 billion won (US$779.7 million) this year in support for the 2018 PyeongChang Winter Olympic and Paralympic Games preparations.