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International relations

South Korea and Indonesia reach final agreement on free trade deal

Countries to sign pact next year, removing tariffs on steel, autos and beer

Indonesian President Joko Widodo, left, and South Korean President Moon Jae-in intend to sign the trade deal early next year.   © Reuters

BUSAN/JAKARTA -- South Korea and Indonesia on Monday wound up seven and a half years of negotiations on a free trade deal, with an agreement to remove tariffs on steel, autos and beer.

South Korea's trade ministry said ministers from the two countries signed a joint announcement on the completion of the South Korea-Indonesia Comprehensive Economic Partnership Agreement at their bilateral summit.

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