| Then Korean Trade Minister Yoo Myung-hee, right, and her Israeli counterpart, Amir Peretz, take part in a signing ceremony of their free trade agreement in this May 12, 2021 file photo. Yonhap |
Korea's National Assembly on Tuesday ratified a respective free trade agreement (FTA) with Israel and Cambodia, wrapping up the final domestic procedure needed for their implementation.
The ratification came as Korea signed an FTA with Israel in May last year after they struck the deal in 2019 following three-year negotiations. Seoul became the first Asian country to have a free trade deal with the Middle Eastern nation.
Korea also signed an FTA with Cambodia in October last year.
"The government will notify Israel and Cambodia of the completion of all due domestic procedures and have a consultation with them on when to have them go into effect," the Ministry of Trade, Industry and Energy said. (Yonhap)