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.
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Trade agreements in force
South Korea
Free-trade areas
| No.[1] | 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
( |
18 January 2005 | 15 December 2005 | 1 September 2006 | South Korea's first FTA with a regional block | |
| 4 | ASEAN
( |
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 | see Canada–Korea Free Trade Agreement | |
| 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
( |
18 June 2015 | 21 February 2018 | 1 March 2021 | Later, Guatemala joined as a new member of the agreement. | |
| 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 |  Indonesia
|
7 July 2012 | 18 December 2020 | 1 January 2023 [9] | see Indonesia–Korea Comprehensive Economic Partnership Agreement | |
| 20 |  Israel
|
27 June 2016 | 12 May 2021 | 1 January 2023 | South Korea's first FTA in Middle East and Israel's first in Asia[10] | |
| 21 |  Ecuador
|
26 January 2016 | 11 October 2023 | SECA (Strategic Economic Cooperation Agreement)[11] first negotiation commended in 2006 but stalled since; In February 2022 both parties agreed to complete negotiations in 2022[12][13] | ||
| 22 |  United Arab Emirates
|
October 2022 | 14 October 2023[14] | UAE-Korea Comprehensive Economic Partnership Agreement[14] | ||
| 23 | Gulf Cooperation Council
( |
9 July 2008 | 28 December 2023[15] | First negotiation commenced in 2008 upon President Roh's visit to Riyadh but later halted by GCC in 2010;[16]
resumed negotiation in 2022 upon President Moon's visit to Riyadh[17] | ||
| 24 | Central America + | October 2021 | 9 January 2024[14] | Participated as a new member of the Central America-South Korea Comprehensive Economic Partnership Agreement.[14] |
Trade agreements signed yet in force
| No. | State | Commenced negotiation | Officially Signed | Notes |
|---|---|---|---|---|
| 1 |  Cambodia
|
30 July 2020 | 26 October 2021[18] | |
| 2 |  Philippines
|
4 June 2019 | N/A | concluded negotiations in 2021[19] |
| 3 | Singapore
|
29 July 2020 | N/A | Digital Partnership Agreement on digital trade;
concluded negotiations in 2021[20] |
Trade agreements under negotiation
| No. | State | Commenced negotiation | Notes |
|---|---|---|---|
| 1 | China, Japan
|
26 March 2013 | see China–Japan–South Korea Free Trade Agreement |
| 2 | Mercosur*
( |
11 September 2018 | without Venezuela who is suspended of Mercosur membership[21] |
| 3 |  Russia
|
21 June 2019 | on service and investment |
| 4 |  Malaysia
|
11 July 2019 | |
| 5 |  Uzbekistan
|
26 April 2021 | STEP (Agreement for Sustainable Trade and Economic Partnership) |
| 6 | Chile, New Zealand, Singapore
|
2021 | see Digital Economy Partnership Agreement[22] |
| 7 | Pacific Alliance( Chile, Colombia,  Mexico and Peru)
|
aims to begin in 2022[23] | as an associate member of the block[24] |
| 8 | Mexico
|
7 February 2006
aims to begin in 2022*[25] |
first negotiation commended in 2006 but halted in 2008[13] |
| 9 | United Kingdom
|
21 November 2023[26] | see South Korea–United Kingdom Free Trade Agreement |
Trade agreements of interest
| No. | Current Members | Expressed interest | Notes |
|---|---|---|---|
| 1 | Chile, New Zealand and Singapore
|
2021[27] | see DEPA (Digital Economy Partnership Agreement) |
| 2 | Australia,  Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam
|
2021[28] | see CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) |
See also
- Foreign relations of South Korea
- Free trade agreements of India
- Free trade agreements of New Zealand
- Free trade agreements of the European Union
- Free trade agreements of the United Kingdom
- Free trade agreements of the United States
- Free trade agreements of Turkey
References
- ^ "FTA 강국, KOREA". www.fta.go.kr. Retrieved 2021-03-14.
- ^ "South Korea - Trade - European Commission". ec.europa.eu. Retrieved 2021-12-12.
- ^ "Press corner". European Commission - European Commission. Retrieved 2021-07-09.
- ^ "The U.S.-ROK Free Trade Agreement". www.csis.org. Retrieved 2021-03-16.
- ^ "Trump's First Trade Deal: The Slightly Revised Korea-U.S. Free Trade Agreement". Cato Institute. 2019-06-13. Retrieved 2021-03-16.
- ^ "UK and South Korea sign 'continuity' trade agreement". BBC News. 2019-08-22. Retrieved 2021-03-14.
- ^ "UK and South Korea to sign 'continuity free trade agreement'". www.ft.com. Retrieved 2021-03-18.
- ^ "The Regional Comprehensive Economic Partnership (RCEP) Agreement will enter into force in South Korea". www.meti.go.jp. Retrieved 2021-12-12.
- ^ "한-인도네시아 CEPA". fta.go.kr (in Korean). Retrieved 31 May 2023.
- ^ "Israel and South Korea to sign free trade pact". Reuters. 2021-05-09. Retrieved 2021-05-10.
- ^ "Energy | Ministry of Trade, Industry and Energy". english.motie.go.kr. Retrieved 2021-07-09.
- ^ Valencia, Alexandra (2022-02-06). "Ecuador looking to increase China trade by 35%, minister says". Reuters. Retrieved 2022-03-03.
- ^ a b "한-멕시코 FTA 협상 14년 만에 재개…공급망 협력도 강화".
- ^ a b c d "우리나라의 FTA". Korea Federation of Textile Industries. Archived from the original on 21 April 2024. Retrieved 21 April 2024.
{{cite web}}: CS1 maint: bot: original URL status unknown (link) - ^ "GCC-South Korea sign free trade deal in boost to Gulf-Asia economic ties". www.reuters.com. Retrieved 2023-12-18.
- ^ "S. Korea, Gulf Nations Agree to Resume FTA Talks after 12-Year Hiatus". world.kbs.co.kr. Retrieved 2022-01-20.
- ^ "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.
- ^ "한-캄보디아 FTA 정식 서명…신남방정책 발표 후 메콩 첫 협정". The Financial News (in Korean). 2021-10-26. Retrieved 2021-10-26.
- ^ "DTI confirms PH, Korea free trade agreement conclusion". cnn. Archived from the original on October 26, 2021. Retrieved 2021-10-26.
- ^ "Korea-Singapore Digital Partnership Agreement (KSDPA)". www.mti.gov.sg. Retrieved 2022-01-23.
- ^ "Mercosur suspends Venezuela over trade and human rights". BBC News. 2016-12-02. Retrieved 2021-12-12.
- ^ 황, 석주 (2021-10-06). "S. Korea starts process to join DEPA". Yonhap News Agency. Retrieved 2022-01-23.
- ^ "Pacific Alliance to start FTA negotiations with South Korea". Opportimes (in Spanish). Retrieved 2022-01-28.
- ^ 김, 덕현 (2022-01-26). "Moon hopes for free trade deal with Mexico". Yonhap News Agency. Retrieved 2022-01-28.
- ^ "Mexico to Restart Free-Trade Talks with South Korea". MarketWatch. Retrieved 2022-03-03.
- ^ "South Korea's Yoon to Talk AI in UK as Trade Negotiations Begin". Bloomberg. 20 November 2023. Retrieved 20 November 2023.
- ^ "Korea to officially deliver intention to join DEPA". The Korea Times. 2021-09-12. Retrieved 2022-05-15.
- ^ Global, K. E. D. "South Korea moves to join CPTPP free trade pact as China fears ease". KED Global. Retrieved 2022-05-15.
This page was last edited on 11 May 2024, at 12:25