- 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
17-Oct-2010
WPR
Wisconsin cheese makers are reacting to a free trade agreement between the European Union and South Korea which may require them to re-name their cheeses.
8-Oct-2010
Asahi Shimbun
For Japan, which has been unable to even start negotiations with the EU on a similar free-trade arrangement, the agreement could deal a heavy blow to its auto and electronics industries.
7-Oct-2010
Reuters
The European Union and South Korea signed a free-trade deal yesterday that could double trade between them and trigger a rush among Asian states to enter into trade pacts with the EU.
24-Sep-2010
L’Union européenne a donné jeudi son feu vert à un accord de libre-échange d’une ampleur sans précédent avec la Corée du Sud, l’Italie ayant levé un veto qu’elle brandissait du fait d’inquiétudes pour son industrie automobile, a annoncé la présidence belge de l’UE.
17-Sep-2010
Bernama
The European Union’s presidency said the 27-nation bloc has agreed to sign a free trade deal with South Korea after overcoming objections from Italy, which feared the pact would hurt its ailing auto industry, according to Yonhap news agency on Thursday.
16-Sep-2010
AP
An EU source said all major stumbling blocs had been removed, making Italy’s agreement on the multibillion dollar free trade deal likely.
13-Sep-2010
dpa
European Union ministers meeting on Monday gave Italy until Thursday to decide whether it wants to confirm its veto on a free-trade agreement with South Korea, diplomats told the German Press Agency dpa.
13-Sep-2010
AFP
European partners scrambled on Monday to convince Italy to drop its opposition to a trade deal with South Korea ahead of an EU summit, as Rome fretted about the impact on its vital auto industry.
12-Sep-2010
Business Standard
A hoped-for green light from the European Council, which comprises 27 member-states, was not forthcoming on Friday, as EU trade ministers met to try and break the deadlock.
11-Sep-2010
The European Union’s Foreign Affairs Council yesterday decided to rediscuss the approval of a free trade pact with Korea on Monday, and the 27-member bloc hopes to sign the pact in early October, the minister presiding over the council meeting said.
