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Korea

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


S Korea mulls free trade deal with Gulf states
South Korea is actively considering forging a free trade agreement with six Gulf nations, its top economic official said Wednesday.
EU to focus on regulatory issues in FTA with South Korea
The European Union will focus on regulatory issues in negotiating a free trade agreement (FTA) with South Korea that could be completed in less than two years from the launch of talks, its trade official said Friday.
$1 million needed to offset FTA damages: ministry
Korea’s Ministry of Commerce, Industry and Energy requested a budget of 1 billion won (US$1 million) to the National Assembly on January 1, saying that it needed extra funds to offset the harsher effects of FTAs, estimating 13,000 firms and 100,000 workers would be affected.
FTA with S. Africa expected to boost exports: think tank
South Korea could see its exports to South Africa soar over 30 percent if it signs a free trade agreement (FTA) with the country, a state-run think tank said Monday.
Officials: China-ROK FTA talks have many hurdles
The Republic of Korea (ROK) is not fully prepared to enter free trade area (FTA) talks with China despite such a deal being widely believed to be positive for both economies, Shin Bong-kil, a minister with the Embassy of the ROK in China, said yesterday.
South Korea seeks free trade talks with EU, China next year: president
South Korea wants to open free trade talks with the European Union and China as soon as next year, President Roh Moo-Hyun said.
Korea’s third FTA effective next month
South Korea’s free trade agreement (FTA) with four non-EU members will go into effect next month.
Gov’t to Seek FTA With China After Pact With U.S.
The government hopes to start free trade negotiations with China in the first half of next year after it clinches a free trade agreement with the U.S, a senior government official said Thursday.
U.S. blocked S.K.-China trade deal: politician
According to recently-released data from a conference held last year, when China showed its intention to seek a free trade agreement with Korea, the U.S. gave a strong warning and the Korean government backed away from the deal, going with the U.S. instead.
S Korea denies report of rejecting China’s FTA offer on US worries
South Korean Trade Minister Kim Hyun-chong on Thursday denied a report that the Seoul government rejected China’s proposal to sign a free trade agreement last year after the United States expressed concerns over Beijing’s huge presence in Northeast Asia.