New Zealand and South Korea officially signed a free trade deal in Seoul on Monday.
New Zealand Prime Minister John Key and South Korean President Park Geun-hye witnessed the signing of the deal. The agreement will take effect once it's been ratified by the parliament of the two countries.
Two-way trade between New Zealand and South Korea was worth 4 billion US dollars in the year ending June 2014.
"Today is an important day. It's a special day in the relationship between New Zealand and Korea. The signing of the Free Trade Agreement we have just witnessed opens a new chapter in our bilateral relationship," New Zealand Prime Minister John Key said.