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S. Korea ratifies free trade deals with Israel, Cambodia

Corporate Newsroom 17:12 September 27, 2022

SEOUL, Sept. 27 (Yonhap) -- South Korea's National Assembly on Tuesday ratified a respective free trade agreement (FTA) with Israel and Cambodia, wrapping up the final domestic procedure needed for their implementation.

The ratification came as South Korea signed an FTA with Israel in May last year after they struck the deal in 2019 following three-year negotiations. Seoul became the first Asian country to have a free trade deal with the Middle Eastern nation.

South Korea also signed an FTA with Cambodia in October last year.

"The government will notify Israel and Cambodia of the completion of all due domestic procedures and have a consultation with them on when to have them go into effect," the Ministry of Trade, Industry and Energy said.

This file photo taken May 12, 2021, shows then South Korean Trade Minister Yoo Myung-hee (R) and her Israeli counterpart, Amir Peretz, taking part in a signing ceremony of their free trade agreement. (Yonhap)


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