- Negotiations
In May 2007, the European Union and South Korea started negotiating a bilateral free trade agreement. It took effect on 1 July 2011.
This deal is part of the EU’s post-2006 "Global Europe" strategy to boost the competitiveness of EU corporations in the world by securing deeper commitments to neoliberal policies from trading partners, including expanded rights for European transnationals. In Korea, the European Union is trying to win equal, if not better, footing against US firms after the conclusion of the US-Korea FTA. (The EU makes stronger demands than the US on Korea in the areas of intellectual property, services, competition policy and environmental standards.)
Social movements from both sides mobilised against the deal’s potential impacts. One flashpoint of concern is for Korea’s agricultural sector, where pig farmers in particular are expected to suffer from an influx of subsidised EU pork as a result of this deal.
last update: May 2012
photo: European External Action Service - EEAS/CC BY-NC-ND 2.0
24-Apr-2007
A study prepared for the European Union
18-Apr-2007
Yonhap
South Korea and the European Union will start discussions in early May on forging a free trade agreement (FTA), Seoul’s senior trade official said Wednesday.
12-Apr-2007
Jamaica Gleaner
The EU concession announced last week to remove all remaining quota and tariff restrictions on ACP products includes a phase-out period for rice and sugar, but does not mention bananas.
12-Apr-2007
Seoul Times
The recent free trade agreement between Korea and the US could help uncork one of the hottest markets in an expanding Asian frontier: quality foodstuffs and wine.
6-Apr-2007
Korea Times
"We will most probably see a swifter resolution of the FTA talks, compared with the Korea-US FTA, since there are less sensitivity issues between the two sides," Jurgen Wohler, secretary general of the Korea-German Chamber of Commerce and Industry, said. He added that it would be satisfactory if the Korea-EU FTA is agreed upon on a similar level to the KORUS FTA.
5-Feb-2007
Korea Herald
"Everything will be on the table" when Korea and the European Union start official negotiations for a free trade agreement in March, said EU Ambassador Brian McDonald.
25-Jan-2007
Dow Jones
President Roh Moo-hyun on Tuesday said South Korea will launch free trade talks with the European Union this year.
7-Dec-2006
Yonhap
A free trade agreement betwen South Korea and the European Union (EU) is mandatory, not optional, South Korean Prime Minister Han Myeong-sook said Wednesday.
15-Nov-2006
Yonhap
South Korea said Wednesday it will hold a public hearing next week to discuss a possible free trade agreement the the European Union.
19-Aug-2006
Korea Times
The European Union is showing eagerness to establish a free trade agreement (FTA) with Korea ahead of the resumption of talks next month, officials of both sides say.