On July 13, 2022, China's Ministry of Commerce and the ROK's Ministry of Trade, Industry and Energy held a meeting of chief negotiators for the second phase of FTA negotiations via video link. The two sides conducted in-depth consultations on cross-border trade in services, investment and financial services and other issues on rules, as well as the market access negative list, with positive progress.

The two sides believe that China and the ROK are important economic and trade partners for each other. Actively promoting the second phase of China-ROK FTA negotiations and achieving substantive outcomes at an early date will enhance the level of openness and cooperation in bilateral service trade and investment, further stimulate the potential of bilateral trade, and elevate China-ROK economic and trade relations to a new level.