- 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
8-Nov-2012
Les Echos
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.
9-Aug-2012
La Tribune
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
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.
7-Jul-2012
South Korea’s biggest car maker, Hyundai Motor Co, decided to boost its European presence five years ago, adding a family sedan and a sporty-looking crossover SUV to its smaller hatchbacks.
2-Jul-2012
Chosun Ilbo
Korea’s exports to the EU dwindled 12% since the Korea-EU FTA went into effect one year ago, while imports grew 13%.
11-Jun-2012
Korea Herald
Retail prices of imported whisky from Europe have not dropped but climbed in the local market despite the Korea-EU Free Trade Agreement which took effect in July 1, 2011, according to Korea’s antitrust regulator.
10-Jun-2012
Domestic prices of whisky imported from the European Union (EU) are five times more than their import costs despite last year’s implementation of a bilateral free trade deal that cut tariffs, a consumer advocacy group said Sunday.
1-Jun-2012
Reuters
Buried in the small print of an obscure trade agreement between Europe and South Korea is a clause which is costing oil consumers around the world money.
28-May-2012
The Korea Trade Investment Promotion Agency said Monday that it will hold a business fair for European retail companies next month on the first anniversary of the Korea-EU free trade pact.
5-May-2012
The European boss of Ford Motor, the continent’s fourth-ranked carmaker by sales, has complained about “significant imbalance” in trade in cars under a free trade agreement with South Korea that took effect last year.
