Free trade agreements of South Korea
From Wikipedia, the free encyclopedia
South Korea has concluded free trade agreements (FTAs) and other agreements with a trade component with countries around the world and is negotiating with others.
Trade agreements in force
South Korea
Free-trade areas
| No.[1] | State | Commenced negotiation | Officially Signed | Fully enforced | Notes |
|---|---|---|---|---|---|
| 1 |  Chile |
14 December 1999 | 15 February 2003 | 1 April 2004 | South Korea's first-ever FTA |
| 2 |  Singapore |
27 January 2004 | 4 August 2005 | 2 March 2006 | |
| 3 | European Free Trade Association
( |
18 January 2005 | 15 December 2005 | 1 September 2006 | South Korea's first FTA with a regional block |
| 4 | ASEAN
( |
23 February 2005 | 24 August 2006 (goods) | 1 June 2007 (goods) | agreements on goods, service and investment signed gradually from 2006 to 2009;
agreement on goods enforced in 2007 and others in 2009 |
| 21 November 2007 (service) | 1 May 2009 (service) | ||||
| 2 June 2009 (investment) | 1 September 2009 (investment) | ||||
| 5 |  India |
23 March 2006 | 7 August 2009 | 1 January 2010 | see Comprehensive Economic Partnership Agreement between India and South Korea |
| 6 |  European Union and its member states |
7 May 2007 | 6 October 2010 | (1 July 2011)
13 December 2015 |
see European Union–South Korea Free Trade Agreement;
enforced provisionally from 2011 and fully from 2015;[2] EU's first trade agreement with environmental and labour components[3] |
| 7 |  Peru |
16 March 2009 | 21 March 2011 | 1 August 2011 | see South Korea–Peru Free Trade Agreement |
| 8 |  United States |
5 June 2006 | 30 June 2007 | 15 March 2012 | see United States–Korea Free Trade Agreement;
signed under Obama administration[4] and revised under Trump administration[5] |
| 5 January 2018 (revised) | 24 September 2018 (revised) | 1 January 2019 (revised) | |||
| 9 |  Turkey |
26 April 2010 | 1 August 2012 (framework and goods) | 1 May 2013 (framework and goods) | on framework and goods initially and service and investment three years later |
| 26 May 2015 (service and investment) | 1 August 2018 (service and investment) | ||||
| 10 |  Australia |
19 May 2009 | 8 April 2014 | 12 December 2014 | see Australia–Korea Free Trade Agreement |
| 11 |  Canada |
28 July 2005 | 22 September 2014 | 1 January 2015 | see Canada–Korea Free Trade Agreement |
| 12 |  China |
14 May 2012 | 1 June 2015 | 20 December 2015 | see China–South Korea Free Trade Agreement |
| 13 |  New Zealand |
8 June 2009 | 23 March 2015 | 20 December 2015 | |
| 14 |  Vietnam |
6 August 2012 | 5 May 2015 | 20 December 2015 | |
| 15 |  Colombia |
7 December 2009 | 21 February 2013 | 15 July 2016 | |
| 16 | Central America
( |
18 June 2015 | 21 February 2018 | 1 March 2021 | Later, Guatemala joined as a new member of the agreement. |
| 17 |  United Kingdom |
24 February 2017 | 22 August 2019 | 1 January 2021 | see South Korea–United Kingdom Free Trade Agreement. never "negotiated" as prohibited by EU rules;
aimed at maintaining the trade relations two countries enjoyed under EU-SK FTA before Brexit[6] and subject to re-negotiation in two years[7] |
| 18 | ASEAN member states, China,  Japan, Australia and New Zealand |
9 May 2013 | 15 November 2020 | 1 February 2022 | see Regional Comprehensive Economic Partnership;
from February 2022[8] |
| 19 |  Indonesia |
7 July 2012 | 18 December 2020 | 1 January 2023 [9] | see Indonesia–Korea Comprehensive Economic Partnership Agreement |
| 20 |  Israel |
27 June 2016 | 12 May 2021 | 1 January 2023 | South Korea's first FTA in Middle East and Israel's first in Asia[10] |
| 21 |  Philippines |
4 June 2019 | 7 September 2023[11] | 31 December 2024[12] | |
| 22 |  Ecuador |
26 January 2016 | 11 October 2023 | SECA (Strategic Economic Cooperation Agreement)[13] first negotiation commended in 2006 but stalled since; In February 2022 both parties agreed to complete negotiations in 2022[14][15] | |
| 23 |  United Arab Emirates |
October 2022 | 14 October 2023[16] | UAE-Korea Comprehensive Economic Partnership Agreement[16] | |
| 24 | Gulf Cooperation Council
( |
9 July 2008 | 28 December 2023[17] | First negotiation commenced in 2008 upon President Roh's visit to Riyadh but later halted by GCC in 2010;[18]
resumed negotiation in 2022 upon President Moon's visit to Riyadh[19] | |
| 25 | Central America + | October 2021 | 9 January 2024[16] | Participated as a new member of the Central America-South Korea Comprehensive Economic Partnership Agreement.[16] |
Trade agreements signed yet in force
Trade agreements under negotiation
| No. | State | Commenced negotiation | Notes |
|---|---|---|---|
| 1 | China, Japan |
26 March 2013 | see China–Japan–South Korea Free Trade Agreement |
| 2 | Mercosur*
( |
11 September 2018 | without Venezuela who is suspended of Mercosur membership[22] |
| 3 |  Russia |
21 June 2019 | on service and investment |
| 4 |  Malaysia |
11 July 2019 | |
| 5 |  Uzbekistan |
26 April 2021 | STEP (Agreement for Sustainable Trade and Economic Partnership) |
| 6 | Chile, New Zealand, Singapore |
2021 | see Digital Economy Partnership Agreement[23] |
| 7 | Pacific Alliance( Chile, Colombia,  Mexico and Peru) |
aims to begin in 2022[24] | as an associate member of the block[25] |
| 8 | Mexico |
7 February 2006
aims to begin in 2022*[26] |
first negotiation commended in 2006 but halted in 2008[15] |
| 9 | United Kingdom |
21 November 2023[27] | see South Korea–United Kingdom Free Trade Agreement |
Trade agreements of interest
| No. | Current Members | Expressed interest | Notes |
|---|---|---|---|
| 1 | Chile, New Zealand and Singapore |
2021[28] | see DEPA (Digital Economy Partnership Agreement) |
| 2 | Australia,  Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, United Kingdom, and Vietnam |
2021[29] | see CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) |