Seoul: South Korean Finance Minister Koo Yun-cheol said today that South Korea aims to expand its free trade agreement (FTA) network with emerging markets, such as Latin America and Africa, in its latest effort to diversify supply chains.

According to Oman News Agency, the finance minister emphasized the government's strategy to support export growth by expanding the FTA network rather than merely responding to trade issues. He highlighted the ongoing structural changes in the global trade environment, marked by a weakening of multilateral trade norms and heightened competition among major countries.

In response to these global shifts, the government plans to continuously expand and strategically upgrade its FTA network. The finance minister mentioned that South Korea aims to broaden its FTA map to include emerging markets like Southeast Asia, Latin America, and Africa, to diversify global supply chains.

The finance ministry noted that South Korea has signed 21 free trade deals covering 59 countries, illustrating its commitment to expanding trade relations and diversifying economic partnerships.