S.Korea, U.S. FTA talks end without progress

South Korean and the U.S. officials concluded their second round of talks over a free trade agreement (FTA) here on Friday without making any major progress.

The South Korean Ministry of Foreign Affairs and Trade said that the South Korean side decided to cancel the final day's negotiation after the U.S. officials' absence to Friday's meeting to boycott South Korea's new drug policy.

"The U.S. negotiators did not take part in today's discussions. Our side also told them that there would be no meeting today," said a statement by the ministry.

The U.S. boycott came after the South Korean government insisted that its drug-pricing policy to be launched in September could not be changed.

According to the policy, South Korean patients would be reimburses by the government when they buy so-called "positive" medicines certified by the government.

The U.S. sides asked the South Korea to scrap or revise the policy.

The policy would "limit access of Korean patients and doctors to the most innovative drugs in the world," said U.S. negotiator Wendy Culter.

However, South Korean Health Minister Rhyu Si-min called the boycott of the U.S. delegation as "inappropriate act."

"We are trying to do good to our people by cutting medicine prices, but the U.S. overturned the negotiating table," Rhyu said.

According to South Korean officials, the two sides discussed 18 categories during the 5-day talks but failed to exchange initial offers on concessions or agreements.

Source: Xinhua