South Korea said it has 'effectively' reached a free trade agreement with China that will remove or sharply reduce barriers to trade and investment between the two global trade giants. South Korean presidential spokesman Min Kyung-wook told a media briefing that leaders of the two countries were due to sign the agreement later on Monday after a summit meeting in Beijing. China is South Korea's largest trading partner, with bilateral trade amounting to $228.9 billion in 2013 - accounting for 21 percent of South Korea's total trade valued at $1.08 trillion, government data shows.
