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Seoul and Beijing will hold the sixth round of FTA talks at South Korea's largest port city of Busan.
The new high-speed railway is expected to boost the region's economy and increase tourism in the three cities it links.
An index reading greater than 50 indicates expansion, while a reading below 50 indicates contraction.
An additional $9 billion in investment will come from US-based private companies.
Another round of talks regarding the maritime disputes will be held in September.