Meanwhile, the benchmark Korea Composite Stock Price Index (KOSPI) closed at 1,958.23, up 18.36 points, or 0.95 percent from the previous trading day, following reports that Seoul and Beijing agreed on a free trade deal.
South Korean President Park Geun-hye and Chinese President Xi Jinping declared the conclusion of FTA negotiations between the two countries during their summit at the Great Hall of the People in Beijing, said An Chong-bum, senior South Korean presidential secretary for economic affairs.
The two leaders met on the sidelines of a summit of the Asia-Pacific Economic Cooperation (APEC) forum in the Chinese capital.
After the summit, the signing of agreed minutes on the deal took place between South Korean Trade Minister Yoon Sang-jick and his Chinese counterpart Gao Huchen with the attendance of the two leaders, An said.
The two sides plan to formally sign a deal on the FTA early next year, before submitting it to parliaments of both countries for approval, South Korean officials said.
Trade volume between the two nations reached US$228.9 billion in 2013, according to South Korean government data.
reporter
Park Sae-jin
swatchsjp@ajunews.com
