Jump to content

Free trade agreements of South Korea

Edit links
From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Renamed user 1oj3saabam (talk | contribs) at 13:41, 19 October 2023 (Adding intentionally blank description). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

South Korea has concluded free trade agreements (FTAs) and other agreements with a trade component with countries around the world and is negotiating with others.

  South Korea
  Free-trade areas

Trade agreements in force[1]

No. State Commenced negotiation Officially Signed Fully enforced Notes
1  Chile 14 December 1999 15 February 2003 1 April 2004 South Korea's first-ever FTA
2  Singapore 27 January 2004 4 August 2005 2 March 2006
3 European Free Trade Association

( Iceland, Liechtenstein, Norway and   Switzerland)

18 January 2005 15 December 2005 1 September 2006 South Korea's first FTA with a regional block
4 ASEAN

( Brunei, Cambodia, Indonesia,  Laos,  Malaysia, Myanmar, Philippines,  Singapore,  Thailand and  Vietnam)

23 February 2005 24 August 2006 (goods) 1 June 2007 (goods) agreements on goods, service and investment signed gradually from 2006 to 2009;

agreement on goods enforced in 2007 and others in 2009

21 November 2007 (service) 1 May 2009 (service)
2 June 2009 (investment) 1 September 2009 (investment)
5  India 23 March 2006 7 August 2009 1 January 2010 see Comprehensive Economic Partnership Agreement between India and South Korea
6  European Union and its member states 7 May 2007 6 October 2010 (1 July 2011)

13 December 2015

see European Union–South Korea Free Trade Agreement;

enforced provisionally from 2011 and fully from 2015;[2] EU's first trade agreement with environmental and labour components[3]

7  Peru 16 March 2009 21 March 2011 1 August 2011 see South Korea–Peru Free Trade Agreement
8  United States 5 June 2006 30 June 2007 15 March 2012 see United States–Korea Free Trade Agreement;

signed under Obama administration[4] and revised under Trump administration[5]

5 January 2018 (revised) 24 September 2018 (revised) 1 January 2019 (revised)
9  Turkey 26 April 2010 1 August 2012 (framework and goods) 1 May 2013 (framework and goods) on framework and goods initially and service and investment three years later
26 May 2015 (service and investment) 1 August 2018 (service and investment)
10  Australia 19 May 2009 8 April 2014 12 December 2014 see Australia–Korea Free Trade Agreement
11  Canada 28 July 2005 22 September 2014 1 January 2015
12  China 14 May 2012 1 June 2015 20 December 2015 see China–South Korea Free Trade Agreement
13  New Zealand 8 June 2009 23 March 2015 20 December 2015
14  Vietnam 6 August 2012 5 May 2015 20 December 2015
15  Colombia 7 December 2009 21 February 2013 15 July 2016
16 Central America

( Panama,  Costa Rica,  Honduras,  El Salvador and  Nicaragua)

18 June 2015 21 February 2018 1 March 2021
17  United Kingdom 24 February 2017 22 August 2019 1 January 2021 never "negotiated" as prohibited by EU rules;

aimed at maintaining the trade relations two countries enjoyed under EU-SK FTA before Brexit[6] and subject to re-negotiation in two years[7]

18 ASEAN member states,  China,  Japan,  Australia and  New Zealand 9 May 2013 15 November 2020 1 February 2022 see Regional Comprehensive Economic Partnership;

from February 2022[8]

19  Australia,  Brunei,  India,  Indonesia,  Japan,  Malaysia,  New Zealand,  Philippines,  Thailand,  Singapore,  United States and  Vietnam N/A N/A 2022 see Indo-Pacific Economic Framework;[9] not a trade agreement[10]
20  Indonesia 7 July 2012 18 December 2020 1 January 2023 [11] see Indonesia–Korea Comprehensive Economic Partnership Agreement
21  Israel 27 June 2016 12 May 2021 1 January 2023 South Korea's first FTA in Middle East and Israel's first in Asia[12]

Trade agreements signed yet in force

No. State Commenced negotiation Officially Signed Notes
1  Cambodia 30 July 2020 26 October 2021[13]
2  Philippines 4 June 2019 N/A concluded negotiations in 2021[14]
3  Singapore 29 July 2020 N/A Digital Partnership Agreement on digital trade;

concluded negotiations in 2021[15]

Trade agreements under negotiation

No. State Commenced negotiation Notes
1  China,  Japan 26 March 2013 see China–Japan–South Korea Free Trade Agreement
2  Ecuador 26 January 2016

2022*

SECA (Strategic Economic Cooperation Agreement)[16] first negotiation commended in 2006 but stalled since; In February 2022 both parties agreed to complete negotiations in 2022[17][18]
3 Mercosur*

( Argentina, Brazil, Paraguay and  Uruguay)

11 September 2018 without Venezuela who is suspended of Mercosur membership[19]
4  Russia 21 Junne 2019 on service and investment
5  Malaysia 11 July 2019
6  Uzbekistan 26 April 2021 STEP (Agreement for Sustainable Trade and Economic Partnership)
7  Chile,  New Zealand,  Singapore 2021 see Digital Economy Partnership Agreement[20]
8  UAE aims to begin in 2021[21] CEPA
9 Gulf Cooperation Council

( Bahrain,  Kuwait,  Oman,  Qatar,  Saudi Arabia,  UAE)

9 July 2008

2022*

first negotiation commenced in 2008 upon President Roh's visit to Riyadh but later halted by GCC in 2010;[22]

resumed negotiation in 2022 upon President Moon's visit to Riyadh[23]

10 Pacific Alliance( Chile,  Colombia,  Mexico and  Peru) aims to begin in 2022[24] as an associate member of the block[25]
11  Mexico 7 February 2006

aims to begin in 2022*[26]

first negotiation commended in 2006 but halted in 2008[18]
12  United Kingdom Aims to begin in 2023[27] The trade consultation for an updated FTA closed on 2 February 2023.[28]

Trade agreements of interest

No. Current Members Expressed interest Notes
1  Chile,  New Zealand and  Singapore 2021[29] see DEPA (Digital Economy Partnership Agreement)
2  Australia,  Brunei,  Canada,  Chile, Japan,  Malaysia,  Mexico,  New Zealand,  Peru,  Singapore and  Vietnam 2021[30] see CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership)

See also

References

  1. ^ "FTA 강국, KOREA". www.fta.go.kr. Retrieved 2021-03-14.
  2. ^ "South Korea - Trade - European Commission". ec.europa.eu. Retrieved 2021-12-12.
  3. ^ "Press corner". European Commission - European Commission. Retrieved 2021-07-09.
  4. ^ "The U.S.-ROK Free Trade Agreement". www.csis.org. Retrieved 2021-03-16.
  5. ^ "Trump's First Trade Deal: The Slightly Revised Korea-U.S. Free Trade Agreement". Cato Institute. 2019-06-13. Retrieved 2021-03-16.
  6. ^ "UK and South Korea sign 'continuity' trade agreement". BBC News. 2019-08-22. Retrieved 2021-03-14.
  7. ^ "UK and South Korea to sign 'continuity free trade agreement'". www.ft.com. Retrieved 2021-03-18.
  8. ^ "The Regional Comprehensive Economic Partnership (RCEP) Agreement will enter into force in South Korea". www.meti.go.jp. Retrieved 2021-12-12.
  9. ^ "Joe Biden launches trade agreement with 12 Asian nations". Financial Times. 2022-05-23. Retrieved 2022-05-23.
  10. ^ Kemp, Ted (2022-05-23). "U.S. announces major Asia economic deal in effort to boost profile, counter China". CNBC. Retrieved 2022-05-23.
  11. ^ "한-인도네시아 CEPA". fta.go.kr (in Korean). Retrieved 31 May 2023.
  12. ^ "Israel and South Korea to sign free trade pact". Reuters. 2021-05-09. Retrieved 2021-05-10.
  13. ^ 파이낸셜뉴스 (2021-10-26). "한-캄보디아 FTA 정식 서명…신남방정책 발표 후 메콩 첫 협정". 파이낸셜뉴스 (in Korean). Retrieved 2021-10-26.
  14. ^ "DTI confirms PH, Korea free trade agreement conclusion". cnn. Retrieved 2021-10-26.
  15. ^ "Korea-Singapore Digital Partnership Agreement (KSDPA)". www.mti.gov.sg. Retrieved 2022-01-23.
  16. ^ "Energy | Ministry of Trade, Industry and Energy". english.motie.go.kr. Retrieved 2021-07-09.
  17. ^ Valencia, Alexandra (2022-02-06). "Ecuador looking to increase China trade by 35%, minister says". Reuters. Retrieved 2022-03-03.
  18. ^ a b "한-멕시코 FTA 협상 14년 만에 재개…공급망 협력도 강화".
  19. ^ "Mercosur suspends Venezuela over trade and human rights". BBC News. 2016-12-02. Retrieved 2021-12-12.
  20. ^ 황석주 (2021-10-06). "S. Korea starts process to join DEPA". Yonhap News Agency. Retrieved 2022-01-23.
  21. ^ Cornwell, Alexander (2021-10-14). "UAE, South Korea to launch free trade talks". Reuters. Retrieved 2021-10-14.
  22. ^ "S. Korea, Gulf Nations Agree to Resume FTA Talks after 12-Year Hiatus". world.kbs.co.kr. Retrieved 2022-01-20.
  23. ^ "The president of the republic of Korea receives the Secretary General of the gulf cooperation council in Riyadh". www.gcc-sg.org. Retrieved 2022-01-20.
  24. ^ "Pacific Alliance to start FTA negotiations with South Korea". Opportimes (in Spanish). Retrieved 2022-01-28.
  25. ^ 김덕현 (2022-01-26). "Moon hopes for free trade deal with Mexico". Yonhap News Agency. Retrieved 2022-01-28.
  26. ^ "Mexico to Restart Free-Trade Talks with South Korea". MarketWatch. Retrieved 2022-03-03.
  27. ^ UK kicks off process to negotiate new trade deal with South Korea. UK Parliament (Report). 9 December 2022.
  28. ^ Progress on UK free trade agreement negotiations. UK Parliament (Report). 31 March 2023.
  29. ^ "Korea to officially deliver intention to join DEPA". koreatimes. 2021-09-12. Retrieved 2022-05-15.
  30. ^ Global, K. E. D. "South Korea moves to join CPTPP free trade pact as China fears ease". KED Global. Retrieved 2022-05-15.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Free_trade_agreements_of_South_Korea&oldid=1180891904"