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 Philippines agreed to conclude a free trade agreement in November at the latest.
The European Union has made a request for modernization of its FTA with South Korea, which differs from renegotiation because refers to a change in the structure of an FTA itself.
Uzbekistan and South Korea will work on the conclusion of a free trade agreement to expand bilateral economic and trade relations.
South Korea will hold its first negotiations with Indonesia in five years to forge a bilateral free trade deal later this month.
South Korean Trade Minister said that the South Korean government would conclude free trade agreements (FTAs) with Indonesia, Malaysia and the Philippines in the near future.
Costa Rica became the second Central American country to enter a FTA with South Korea, that will give immediate access without tariffs to 80% of Costa Rican products.
South Korea has actively promoted its agricultural products in overseas markets over the past few years by holding K-food fairs. Nonetheless, data show that Korea has yet to resolve its chronic trade deficit in farm products.
The Free Trade Agreement (FTA) between Honduras and South Korea is about to enter into force; the National Congress of the Republic has already approved it.
The Korea government may face another investor-state dispute case from the Chinese capital if the license is called off.
South Korea and India will hold their seventh round of CEPA talks to discuss ways to further open up the goods and services market and ease country of origin rules.
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.