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
Trade ministers from Korea and the European Union will meet in Seoul next week to iron out divisive issues related to a free trade deal, officials said yesterday.
The government will speed up negotiations with the European Union to clinch a free trade deal with an aim to implement the agreement in January next year.
South Korea and the EU hope to finalise their FTA in January
South Korea and the European Union will hold a meeting in Vienna this week to resolve contentious issues such as auto trade and rules of origin in their free trade negotiations, Yonhap News reported Sunday quoting officials.
The European Union Chamber of Commerce in Korea proudly presented the Korea -EU Industrial Cooperation Day on December 10, and the third edition of the EU-Korea Awards, which honor not just European companies, but government authorities who have made a significant contribution to strengthening the relationship between the EU and Korea.
European carmakers have attacked a proposed trade agreement with South Korea, claiming that it is lopsided and sacrifices their interests for the benefit of Europe’s services industries.
Trade ministers from South Korea and the European Union (EU) are expected to meet in Brussels early next month to iron out divisive issues related to their free trade negotiations, officials said Sunday.
South Korea and the European Union (EU) have reaffirmed that they will strike a free trade deal by the end of the year, a top Seoul trade official said Friday.
A soon-to-be-finalized free trade agreement between the European Union and South Korea is causing concern for Turkey, as its market will be indirectly opened to South Korean products due to its customs union agreement with the EU.
Chief negotiators from South Korea and the European Union have agreed to seek a package solution on controversial issues such as auto trade after failing to narrow their gap in three-day free trade talks, officials said Friday.