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
Australia is urging South Korea to kick off negotiations for a free trade agreement (FTA) to facilitate a growing bilateral trade in raw materials, agricultural and manufactured goods, according to a senior Australian official.
Last year represented a historic moment in the economic relationship between Latin America and Korea.
South Korean President Roh Moo-hyun’s visit here will likely be a great challenge for the two countries, which are haggling over a free trade agreement (FTA) across the Pacific Ocean.
The launch of free trade agreement (FTA) talks between South Korea and Mexico have stalled, on the latter’s request for an additional concession.
As economic interdependence between Korea and China grows significantly, government officials and economists find it more and more necessary to form a free trade agreement to strengthen bilateral economic relations.
South Korea and Singapore formally signed a free trade agreement (FTA) here Thursday, reported the South Korean Yonhap News Agency.
South Korean President Roh Moo-hyun says he prefers an economic partnership agreement over a free trade pact with Mexico. In an interview with news daily "El Sol de Mexico," President Roh said he would propose a comprehensive economic partnership when he makes an official visit to the country in September.
For Korea which relies heavily on external markets, forging bilateral free trade pacts with its trading partners is not an option but a must. Today, regional economic blocs, which have emerged in parallel with the globalization trend, penalize a country that has no bilateral trade deals with them.
South Korea and the European Free Trade Association (EFTA) signed a bilateral free trade agreement (FTA) on Tuesday, a deal that could give domestic companies a beachhead in the European market, the Foreign Affairs and Trade Ministry said.
Eighteen months of talks over a proposed bilateral trade agreement between Japan and South Korea are on the verge of collapse because Japan’s Agriculture Ministry has blocked meaningful dialogue on trade in farm and marine products, a South Korean diplomat said yesterday.
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.