Korea has taken one step closer to inking a trade deal with its seventh largest trading partner, Australia.
Korea's trade ministry said Thursday... that the chief negotiators of the two countries initialled the free trade agreement on Monday and agreed to formally sign it in the first half of this year.
The trade pact is expected to boost exports of Korean products like automobiles and televisions,... but there are concerns it could pose a threat to local farmers.
Two-way trade between Korea and Australia totaled at over 30 billion dollars in 2013.
