Finance Minister Hong Nam-ki says South Korea and Russia are working to sign a free trade agreement in services and investment by next year.<br />On a visit to Moscow Tuesday, local time, Minister Hong said a deal will be signed by 2020, and that an FTA in services and investment will not only help lower tariffs but also speed up customs procedures.<br />Seoul and Moscow started talks on services and investment last June.<br />The two sides' bilateral trade last year amounted to around 25 billion U.S. dollars.<br />
