More now on China's bilateral trade agreements with its neighbors. Are those strategies bearing fruit? CGTN visited a South Korean company to find out.

In the city of Hwaseong, about an hour's drive southwest of South Korea's capital city Seoul, stands an ambitious Korean firm with eyes on the Chinese market. The company produces high-end mechanical parts used for robots, semiconductors, and medical devices. The company started exploring the Chinese market as early as five years ago but it was just this year that their sales began to dramatically improve.

CALVIN JOUNG SENIOR MANAGING DIRECTOR, WON ST CO., LTD. "After the signing of China-ROK Free Trade Agreement, it took us some time to prepare before entering the Chinese market. Early this year, our products finally won all the certifications, which boosted our sales in China by 30 percent."

Tariff reductions and exemption policies, and the establishment of the China-South Korea Free Trade Zone made the Hwaseong company see the potential market size of China. The company recently joined with a Chinese partner and brought its production lines directly into China.

CALVIN JOUNG SENIOR MANAGING DIRECTOR, WON ST CO., LTD. "China has a huge market. And in the future, our products will become even more indispensable for it, with the advance of the next industrial revolution, such as smart manufacturing and artificial intelligence. I can see the demand for our products in the Chinese market increasing dramatically."

Thursday marks the third anniversary of the China-ROK Free Trade Agreement. China and South Korea have gradually reduced their tariffs in that time. The benefits are shared among many enterprises, especially those relying on exports. And the companies hope that there will be more to come.