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Korea

S. Korea, Uruguay agree to speed up free trade talks with Mercosur
13-Oct-2022 Yonhap
South Korea and Mercosur held their seventh round of free trade negotiations in September last year, but little progress has been reported since then.
Korea, Chile agree to resume FTA upgrade talks this year
12-Oct-2022 Korea JoongAng Daily
Korean Prime Minister Han Duck-soo held talks with Chilean President Gabriel Boric on Tuesday and agreed to resume negotiations this year to upgrade a bilateral free trade agreement that went into effect in 2004.
Lone Star, other investor-state disputes cost Korea W68.5b
10-Oct-2022 Korea Herald
South Korea has spent nearly 68.5 billion won ($48.1 million) in total to fight and settle investor-state dispute settlements since 2013,#including its battle with US-based private equity firm Lone Star, data showed.
PH-S. Korea free trade deal seen entering into force in 2023
10-Oct-2022 Business Inquirer
The Philippines is eyeing the entry into force of a free trade agreement (FTA) with South Korea next year, with the bilateral pact seen benefiting local banana and processed pineapple exporters in the form of reduced tariffs.
Cambodia-Korea FTA to come into force from December 1
5-Oct-2022 Khmer Times
The Embassy of the Republic of Korea confirmed on Sunday that the Cambodia-Korea Free Trade Agreement will enter into force on December 1, 2022.
Decade-long ISDS lawsuit vs Lone Star costs S. Korean gov’t $40 mn
3-Oct-2022 Pulse
The South Korean government is found to have spent nearly $40 million in litigation expenses for its decade-long legal dispute against US private equity firm Lone Star Funds.
Israel-South Korea free trade deal to take effect Dec. 1
29-Sep-2022 Reuters
A free trade agreement between Israel and South Korea will go into effect on Dec. 1, Israel’s Economy Ministry said, in a move expected to lower the prices of Korean-made cars, toys, video game consoles and soy sauce.
Korea ratifies free trade deals with Israel, Cambodia
28-Sep-2022 The Korea Times
Korea’s National Assembly on Tuesday ratified a respective free trade agreement with Israel and Cambodia, wrapping up the final domestic procedure needed for their implementation.
Korea ratifies free trade deals with Israel, Cambodia
27-Sep-2022 Korea Times
Korea’s National Assembly ratified a respective free trade agreement (FTA) with Israel and Cambodia, wrapping up the final domestic procedure needed for their implementation.
S. Korea, Ecuador hold new round of talks for bilateral trade deal
20-Sep-2022 Yonhap News Agency
South Korea and Ecuador began a seventh round of talks on the formation of a bilateral free trade deal, the trade ministry here said.
Korea on alert over 6 more investor-state suits following Lone Star ruling
5-Sep-2022 The Korea Times
The total amount of claims asked by claimants against the Korean government exceeds $1.2 billion.
Ratification of RCEP and Indonesia-Korea CEPA is not democratic and violate public rights
1-Sep-2022 Indonesia for Global Justice
The Civil Society Coalition for Economic Justice condemned the plenary session of the Indonesian House of Representatives which ratified the Regional Comprehensive Economic Partnership and the Indonesia-Korea CEPA agreement.
South Korea to appeal international tribunal’s order to pay Lone Star By Kim Arin
1-Sep-2022 Korea Herald
South Korea plans to seek annulment of an international tribunal’s verdict to compensate Lone Star Funds in a decade long investor-to-state dispute arbitration.
S. Korea ordered to pay Lone Star US$216.5 mln in investor-state suit
31-Aug-2022 Yonhap
An international tribunal ordered South Korea to pay the US private equity firm Lone Star Funds US$216.5 million, bringing an end to a decade long legal battle surrounding its sell-off of a local bank.
Minister says inflation law ‘highly likely’ to violate FTA
30-Aug-2022 The Investor
South Korean Minister of Trade Industry and Energy said the US Inflation Reduction Act that bans tax benefits for electric vehicles built outside of North America is highly likely to breach the US-Korea FTA and WTO rules.
Tensions rise as Korea waits for verdict on Lone Star dispute
26-Aug-2022 Korea Herald
The Korean public has been in outrage over the matter for more than a decade, claiming that the case was an international “fraud” committed by an overseas private equity firm.
President calls for enhancing trade, investment with Korea
25-Aug-2022 Business Recorder
President Dr Arif Alvi has said there is a need to explore new avenues of cooperation between Pakistan and Korea for further enhancing bilateral trade and investment.
Chinese premier calls for quick progress in follow-up FTA talks with Korea
25-Aug-2022 The Korea Times
Chinese Premier Li Keqiang called for quick progress in follow-up free trade agreement (FTA) negotiations with Korea as he described the two countries as "inseparable" neighbors that should work together to defend supply chain stability.
Korea calls for digital pact with ASEAN under FTA framework
27-Jul-2022 The Korea Times
Korea suggested a new agreement on digital technology and systems with the Association of Southeast Asian Nations (ASEAN) countries under their free trade pact in a move to further bolster bilateral economic ties, Seoul’s trade ministry said.
China, S Korea made substantial progress for 2nd phase FTA talk: MOFCOM
22-Jul-2022 Global Times
China’s Ministry of Commerce (MOFCOM) said on Thursday that China and South Korea have made substantial progress in second-phase China-South Korea FTA talks.