South Korea, China to Start Free Trade Deal Next Week

South Korea will sign a free trade agreement with China, the world’s second biggest economy, in a very economically promising deal for Seoul next week.

China and South Korea will begin their free trade agreement (FTA) in the week of February 23, officials in Seoul said on Sunday.

"South Korea and China have met in a third country and completed technical consultations and the transcription of the documents," said a senior official at the South Korean Ministry of Trade, Industry and Energy, as quoted by Yonhap News. "Any big differences between the two sides have been eliminated, and we expect to be able to initial the pact this week."

Last November, the two Asian countries concluded FTA negotiations that started in May of 2012. If everything goes as planned, the deal will be the biggest and most economically promising deal for South Korea.