There will soon be a way for Chinese fans to buy K-Pop songs like those of Girls Generation without incurring duties.
The Ministry of Trade, Industry and Energy (MOTIE) announced on June 2 that South Korea and China made major headway with a measure to define e-commerce as a separate chapter in the 11th round of Korea-China FTA negotiations held in China’s Sichuan Province in May.
To characterize e-commerce as a separate area means that the e-commerce market will be open fully. In particular, there have been no specific standards so far to impose import duties on materials transmitted by electronic means such as digital music and e-book, which have been traded duty-free as a result. However, applicable provisions are expected to be established in the future.
MOTIE explains that both countries are exchanging opinions about goods and services, which are the main issues of this negotiation.
Korea has produced a concession list for the manufacturing sector such as petrochemicals, steel, and machinery, insisting on the opening of China’s manufacturing industry. China, on the other hand, is demanding Korea’s concession for agro-fishery products.