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Korea

Decade-long ISDS lawsuit vs Lone Star costs S. Korean gov’t $40 mn
3-Oct-2022 Pulse
The South Korean government is found to have spent nearly $40 million in litigation expenses for its decade-long legal dispute against US private equity firm Lone Star Funds.
Israel-South Korea free trade deal to take effect Dec. 1
29-Sep-2022 Reuters
A free trade agreement between Israel and South Korea will go into effect on Dec. 1, Israel’s Economy Ministry said, in a move expected to lower the prices of Korean-made cars, toys, video game consoles and soy sauce.
Korea ratifies free trade deals with Israel, Cambodia
28-Sep-2022 The Korea Times
Korea’s National Assembly on Tuesday ratified a respective free trade agreement with Israel and Cambodia, wrapping up the final domestic procedure needed for their implementation.
Korea ratifies free trade deals with Israel, Cambodia
27-Sep-2022 Korea Times
Korea’s National Assembly ratified a respective free trade agreement (FTA) with Israel and Cambodia, wrapping up the final domestic procedure needed for their implementation.
S. Korea, Ecuador hold new round of talks for bilateral trade deal
20-Sep-2022 Yonhap News Agency
South Korea and Ecuador began a seventh round of talks on the formation of a bilateral free trade deal, the trade ministry here said.
Korea on alert over 6 more investor-state suits following Lone Star ruling
5-Sep-2022 The Korea Times
The total amount of claims asked by claimants against the Korean government exceeds $1.2 billion.
Ratification of RCEP and Indonesia-Korea CEPA is not democratic and violate public rights
1-Sep-2022 Indonesia for Global Justice
The Civil Society Coalition for Economic Justice condemned the plenary session of the Indonesian House of Representatives which ratified the Regional Comprehensive Economic Partnership and the Indonesia-Korea CEPA agreement.
South Korea to appeal international tribunal’s order to pay Lone Star By Kim Arin
1-Sep-2022 Korea Herald
South Korea plans to seek annulment of an international tribunal’s verdict to compensate Lone Star Funds in a decade long investor-to-state dispute arbitration.
S. Korea ordered to pay Lone Star US$216.5 mln in investor-state suit
31-Aug-2022 Yonhap
An international tribunal ordered South Korea to pay the US private equity firm Lone Star Funds US$216.5 million, bringing an end to a decade long legal battle surrounding its sell-off of a local bank.
Minister says inflation law ‘highly likely’ to violate FTA
30-Aug-2022 The Investor
South Korean Minister of Trade Industry and Energy said the US Inflation Reduction Act that bans tax benefits for electric vehicles built outside of North America is highly likely to breach the US-Korea FTA and WTO rules.
Tensions rise as Korea waits for verdict on Lone Star dispute
26-Aug-2022 Korea Herald
The Korean public has been in outrage over the matter for more than a decade, claiming that the case was an international “fraud” committed by an overseas private equity firm.
President calls for enhancing trade, investment with Korea
25-Aug-2022 Business Recorder
President Dr Arif Alvi has said there is a need to explore new avenues of cooperation between Pakistan and Korea for further enhancing bilateral trade and investment.
Chinese premier calls for quick progress in follow-up FTA talks with Korea
25-Aug-2022 The Korea Times
Chinese Premier Li Keqiang called for quick progress in follow-up free trade agreement (FTA) negotiations with Korea as he described the two countries as "inseparable" neighbors that should work together to defend supply chain stability.
Korea calls for digital pact with ASEAN under FTA framework
27-Jul-2022 The Korea Times
Korea suggested a new agreement on digital technology and systems with the Association of Southeast Asian Nations (ASEAN) countries under their free trade pact in a move to further bolster bilateral economic ties, Seoul’s trade ministry said.
China, S Korea made substantial progress for 2nd phase FTA talk: MOFCOM
22-Jul-2022 Global Times
China’s Ministry of Commerce (MOFCOM) said on Thursday that China and South Korea have made substantial progress in second-phase China-South Korea FTA talks.
S. Korea, Ecuador to resume official talks for trade deal in 6 years
11-Jul-2022 The Korea Herald
South Korea and Ecuador will resume official talks on the formation of a bilateral free trade deal Monday after a six-year hiatus, Seoul’s trade ministry said.
Trade Minister discusses RCEP bill, IK-CEPA with House
8-Jul-2022 Antara News
Indonesia Trade Minister discussed the bill of the Ratification of the RCEP and the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) with the House of Representatives (DPR RI).
PH ready to sign free trade pact with S.Korea
6-Jul-2022 Inquirer Net
The Philippines’ free trade agreement (FTA) with South Korea is inching closer to formalization with the initial signing of the economic pact seen within the next two weeks.
IPEF negotiations expected to start in August
6-Jul-2022 Business Korea
The US and South Korean governments are expected to initiate negotiations on the framework proposed by US President Joe Biden in August (2022).
Trade Ministry expects IK-CEPA ratification in July
27-Jun-2022 The Jakarta Post
The Indonesia Trade Ministry expects the House of Representatives (DPR) to ratify the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) next month.