S Korean, French PMs pledge to further economic cooperation

South Korean Prime Minister Kim Hwang-sik met with his French counterpart Francois Fillon and agreed to support expanded cooperation between corporations, especially small- and medium-sized ones, from the two countries. At the meeting, the two leaders discussed ways to strengthen practical cooperation between the countries in trade and investment after the free trade agreement between South Korea and the European Union (EU) went into effect in July. They also addressed how they would cooperate on France''s hosting of the summit meeting of the Group of 20 major economies from Nov. 3-4 in Cannes. Kim and Fillon both lauded the achievements of the free trade pact as the annual volume of trade between their countries is expected to surpass US$10 billion for the first time in history this year, the office said. Bilateral trade totaled US$9.15 billion in the first eight months of this year, a surge from $7.28 billion for all of last year. The two prime ministers also agreed that their countries will work closely to draw balanced cooperation between advanced and rising economies as the former and current chair country of the G-20 summit. Fillon, the first French prime minister to visit South Korea in 20 years, arrived in Seoul early in the day for a two-day visit.