Free trade agreements of South Korea

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.

Trade agreements in force[1]
No. State Commenced negotiation Officially Signed Fully enforced Notes
1  Chile 1999 2003 2004 South Korea's first-ever FTA
2  Singapore 2004 2005 2006
3 European Free Trade Association

( Iceland, Liechtenstein, Norway and   Switzerland)

 2005 2005 2006 South Korea's first FTA with a regional block
4 ASEAN

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

 2005 2006, 2007 and 2009* 2007 and 2009† agreements on goods, service and investment signed gradually from 2006 to 2009;

agreement on goods enforced in 2007 and others in 2009

5  India 2006 2009 2010 see Comprehensive Economic Partnership Agreement between India and South Korea
6  European Union and its member states 2007 2010 (2011) 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 2009 2011 2011 see South Korea–Peru Free Trade Agreement
8  United States 2006,

2018*

 2007,

2018*

 2012,

2019*

 see United States–Korea Free Trade Agreement;

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

9  Turkey 2010,

2013*

 2012,

2015*

 2013,

2018*

 on framework and goods initially and service and investment three years later
10  Australia 2009 2014 2014 see Australia–Korea Free Trade Agreement
11  Canada 2005 2014 2015
12  China 2012 2015 2015 see China–South Korea Free Trade Agreement
13  New Zealand 2009 2015 2015
14  Vietnam 2012 2015 2015
15  Colombia 2009 2013 2016
16 Central America

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

 2015 2018 2021
17  United Kingdom 2016* 2019 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,  China,  Japan,  Australia,  New Zealand 2013 2020 2022* see Regional Comprehensive Economic Partnership;

from February 2022[8]

Trade agreements signed yet in force
No. State Commenced negotiation Officially Signed Notes
1  Indonesia 2012 2020 in forms of Comprehensive Economic Partnership Agreement
2  Israel 2016 2021 South Korea's first FTA in Middle East and Israel's first in Asia[9]
3  Cambodia 2020 2021[10]
4  Philippines 2019 N/A concluded negotiations in 2021[11]
5  Singapore 2020 N/A Digital Partnership Agreement on digital trade;

concluded negotiations in 2021[12]

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

2022*

 SECA (Strategic Economic Cooperation Agreement)[13]first negotiation commended in 2006 but stalled since; In February 2022 both parties agree to complete negotiations in 2022[14][15]
3 Mercosur*

( Argentina, Brazil, Paraguay and  Uruguay)

 2018 without Venezuela who is suspended of Mercosur membership[16]
4  Russia 2019 on service and investment
5  Malaysia 2019
6  Uzbekistan 2021 STEP (Agreement for Sustainable Trade and Economic Partnership)
7  Chile,  New Zealand,  Singapore 2021 see Digital Economy Partnership Agreement[17]
8  UAE aims to begin in 2021[18] CEPA
9 Gulf Cooperation Council

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

 2008

2022*

 first negotiation commenced in 2008 upon President Roh's visit to Riyadh but later halted by GCC in 2010;[19]

resumed negotiation in 2022 upon President Moon's visit to Riyadh[20]

10 Pacific Alliance( Chile,  Colombia,  Mexico and  Peru) aims to begin in 2022[21] as an associate member of the block[22]
11  Mexico 2006

aims to begin in 2022*[23]

 first negotiation commended in 2006 but halted in 2008[15]

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.{{cite web}}: CS1 maint: url-status (link)
  8. "The Regional Comprehensive Economic Partnership (RCEP) Agreement will enter into force in South Korea". www.meti.go.jp. Retrieved 2021-12-12.
  9. "Israel and South Korea to sign free trade pact". Reuters. 2021-05-09. Retrieved 2021-05-10.
  10. 파이낸셜뉴스 (2021-10-26). "한-캄보디아 FTA 정식 서명…신남방정책 발표 후 메콩 첫 협정". 파이낸셜뉴스 (in Korean). Retrieved 2021-10-26.
  11. "DTI confirms PH, Korea free trade agreement conclusion". cnn. Retrieved 2021-10-26.
  12. "Korea-Singapore Digital Partnership Agreement (KSDPA)". www.mti.gov.sg. Retrieved 2022-01-23.
  13. "Energy | Ministry of Trade, Industry and Energy". english.motie.go.kr. Retrieved 2021-07-09.
  14. Valencia, Alexandra (2022-02-06). "Ecuador looking to increase China trade by 35%, minister says". Reuters. Retrieved 2022-03-03.
  15. "한-멕시코 FTA 협상 14년 만에 재개…공급망 협력도 강화".
  16. "Mercosur suspends Venezuela over trade and human rights". BBC News. 2016-12-02. Retrieved 2021-12-12.
  17. 황석주 (2021-10-06). "S. Korea starts process to join DEPA". Yonhap News Agency. Retrieved 2022-01-23.
  18. Cornwell, Alexander (2021-10-14). "UAE, South Korea to launch free trade talks". Reuters. Retrieved 2021-10-14.
  19. "S. Korea, Gulf Nations Agree to Resume FTA Talks after 12-Year Hiatus". world.kbs.co.kr. Retrieved 2022-01-20.
  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.
  21. "Pacific Alliance to start FTA negotiations with South Korea". Opportimes (in Spanish). Retrieved 2022-01-28.
  22. 김덕현 (2022-01-26). "Moon hopes for free trade deal with Mexico". Yonhap News Agency. Retrieved 2022-01-28.
  23. "Mexico to Restart Free-Trade Talks with South Korea". MarketWatch. Retrieved 2022-03-03.
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