EU-Korea

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

Articles

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  • 30-Jan-2015 Chosun Ilbo Korea: Trade deficit with EU exceeds $10 billion
    It all started after the FTA went into effect. Korea had posted 11 straight years of trade surpluses with the EU from 1998 to 2011, but the balance shift into the red in 2012.
  • 16-Oct-2013 Yonhap Les produits de Kaesong pourrait profiter de l’ALE Corée-UE
    Les produits fabriqués dans le parc industriel de Kaesong devraient bénéficier d’avantages fiscaux s’ils sont exportés vers l’Europe en raison de l’accord de libre-échange Corée du Sud-Union européenne, a déclaré le gouvernement coréen suite à une réunion avec l’UE.
  • 27-Sep-2013 Yonhap Trade commission recognizes damage from EU FTA to S. Korean firms
    So far, 40 Korean companies have claimed damage from the country’s FTAs, with 18 of them claiming damage from the Korea-EU FTA. Out of the total, 30 have been awarded damage.
  • 27-Jun-2013 Yonhap Trade commission recognizes damage from Korea-EU FTA
    South Korea’s trade commission has recognized damage to a local company from the country’s bilateral free trade agreement with the European Union, the government said Thursday.
  • 8-Nov-2012 Les Echos Auto : Bruxelles veut évaluer les accords de libre-échange
    La Commission Européenne devrait annoncer que des études d’impact vont être menées sur tous les accords de libre-échange signés, notamment celui conclu avec la Corée du Sud.
  • 23-Oct-2012 Reuters EU refuses French bid to monitor Korea car imports
    The European Commission has turned down France’s request that imports of cars from South Korea be subject to checks, which could have led to duties being reimposed despite a free-trade deal struck last year.
  • 24-Aug-2012 AFP Séoul aide les producteurs lésés par l’accord de libre-échange avec l’UE
    La Corée du Sud apporte un soutien financier aux producteurs lésés par l’accord de libre-échange avec l’Union européenne (UE), lequel a permis à certains secteurs d’exportation européens, comme la viande, de faire une percée sur le marché sud-coréen depuis un an.
  • 9-Aug-2012 La Tribune Libre-échange auto: la Corée s’insurge contre la France
    Le gouvernement sud-coréen réfute les allégations de la France, selon lesquelles le marché tricolore serait envahi de voitures produites en Corée.
  • 6-Aug-2012 Reuters EU mulls French request for surveillance of S.Korea car imports
    The European Union is examining a request by France to require South Korea to give advanced warning of planned car exports to the EU, the first step towards the possible re-introduction of duties a year after a free-trade deal came into effect.
  • 26-Jul-2012 TF1 Libre-échange : l’Europe naïve ?
    L’accord de libre-échange entre l’Union européenne et la Corée du Sud a été "naïvement passé" par l’Europe, selon le ministre français du Redressement productif, qui a critiqué mercredi l’arrivée de voitures coréennes sur le marché européen et français.
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    Links

  • EU-Korea FTA SIA
    The EU-Korea FTA Trade Sustainability Impact Assessment (SIA) is intended to produce studies in order to provide a deeper understanding of the sustainability impacts of the trade and investment aspects of the Free Trade Agreement and of the mechanisms through which they might affect both the EU and Korea.