"We will pave the way for Korean companies to enter the rapidly growing Chinese service market and push for establishing effective investor protection measures for local companies that invest in China," the ministry's report, submitted to South Korea's National Assembly, was quoted as saying by the Yonhap news agency.
In particular, Seoul is planning to upgrade the investor-state dispute settlement (ISDS) regulations, to make it easier for Korean companies to conduct litigation against states for discriminatory practices within international arbitration, according to the statement.
READ MORE: South Korean President Says Pyongyang's Nuclear Program Threatening China
Relations between the two states soured over Seoul's deployment of a US Terminal High Altitude Area Defense (THAAD) system as a response measure to North Korea’s nuclear and missile tests, tha agency continued. China has claimed that THAAD threatens Beijing’s national security interests and undermines the strategic balance of power in the entire region.
