The government of South Korea has concluded, or is pursuing negotiations for, a number of bilateral free trade and investment agreements. Korean social movements have been mobilizing in opposition to these ever since the Korea-Chile FTA was proposed. So far, South Korea has signed deals with Chile (2004), EFTA (2004), Singapore (2005), ASEAN (2007) the US (2007, ratified in 2011), Peru (2011) and Turkey (2012). Talks are under way with Canada, China, Mexico, India, the EU and, technically speaking, Japan. Negotiations with Colombia have stalled over Colombia’s demands for access for better terms for its fruit and flower exports than what Korea gives Chile and Peru. Seoul is also looking to open discussions with Mercosur, Malaysia, Mexico and possibly Israel.
last update: May 2012
Photo: Joe Mabel / CC BY-SA 3.0
South Korea and the United States will hold the third round of talks on amending the free trade agreement (FTA) between the two nations in Washington this week, Seoul’s trade ministry said on Wednesday.
South Korea and Israel are set to hold a sixth round of free trade agreement (FTA) talks aimed at boosting bilateral economic exchanges and investment, the government said today.
Le traité commercial a officiellement été signé entre le ministre délégué au Commerce extérieur Kim Hyun-chong et les représentants du Costa Rica, du Salvador, du Honduras, du Nicaragua et du Panama.
The emergence of a number of trade issues involving South Korea and the US – including a plan being mulled over by the US to slap tariffs on South Korean steel and GM Korea’s threat to close a factory in South Korea – is creating uncertainty about the future of the Korea-US Free Trade Agreement (KORUS FTA), just before the third round of negotiations aimed at revising the agreement.
The officials will likely discuss the impact that the trade agreement could have on their economic and business relations.
South Korea’s trade ministry said Monday it will seek ways to better protect investor rights from arbitrary regulations when holding talks with China to expand the scope of the two countries’ free trade agreement (FTA) to the service and investment sector.
After the grueling negotiations, South Korean Trade Minister Kim Hyun-chong said that the two sides engaged in intense discussions and there is still a long way to go. Here is Professor Chung In-gyo from the International Trade Department at Inha University to examine the latest FTA talks between South Korea and the US.
Mongolian Prime Minister Ukhnaa Khurelsukh has expressed strong expectations for a possible economic deal with South Korea, in the latest push to boost bilateral trade and investment. Both the countries, in year 2016 began talks on a bilateral economic partnership agreement, which is similar to a free trade deal and focuses on the industrial and investment sectors.
There are no tariffs levied on South Korean auto parts shipped to the US which gives local carmakers to use any component while assembling. Local automakers have expressed concerns that any changes to the rules of origin could compel them to import and use parts they don’t really need and hurt local parts manufacturers.
In December 2017, the trade and industry ministers of South Korea agreed to expedite negotiations to expand the two countries’ two-year-old free trade agreement to include the service and investment sectors.
KoPA is a coalition of around 50 NGOs, social movement organizations, political parties, peasant organizations and trade unions working, among other things, to stop bilateral and regional free trade agreements and the WTO.