Korea's FTA with ASEAN most successful: poll

More than three out of 10 Korean companies believe Seoul's free trade deal with the Association of Southeast Asian Nations (ASEAN) is the nation's most successful one, a poll showed Thursday.

The survey of 258 exporting and importing firms showed that 34.5 percent said the free trade agreement (FTA) with the 10-member economic bloc is the most successful deal due to its huge market potential.

The deal between Korea and the 10-member economic bloc on merchandise took effect in 2007. Similar deals on services and investments also came into effect in 2009.

Bilateral trade volume reached $106.8 billion from June 2009 to May 2011, up 61 percent from four years ago, according to data compiled by the Korean government.

Last year, ASEAN became Korea's second-largest trade partner after China. ASEAN members are Indonesia, Thailand, the Philippines, Malaysia, Vietnam, Singapore, Myanmar, Cambodia, Laos and Brunei.

The survey also found that 25.2 percent and 16.3 percent counted Korea's FTAs with the European Union and the United States as the most successful deal, respectively.

President Lee Myung-bak has aggressively sought free trade agreements with other countries, saying such deals will expand the country's "economic territory."

Korea now has FTAs with 45 partners, including the United States, the European Union and the Association of the Southeast Asian Nations.