S. Korean parliament ratifies FTA with China, step toward regional integration

SEOUL, Nov. 30 (Xinhua) -- South Korea's parliament on Monday ratified its free trade agreement (FTA) with China, taking an important step toward regional economic integration. The ratification bill on the China-South Korea free trade accord was passed through the National Assembly by a majority of 196 to 33 with 36 abstentions. China and South Korea signed the bilateral FTA in June after three years of negotiations. Under the deal, the two sides will eliminate tariffs on more than 90 percent of traded goods each within 20 years after implementation. South Korea expected the free...