The government of South Korea has concluded, or is pursuing negotiations for, a number of bilateral free trade and investment agreements. Korean social movements have been mobilizing in opposition to these ever since the Korea-Chile FTA was proposed. So far, South Korea has signed deals with Chile (2004), EFTA (2004), Singapore (2005), ASEAN (2007) the US (2007, ratified in 2011), Peru (2011) and Turkey (2012). Talks are under way with Canada, China, Mexico, India, the EU and, technically speaking, Japan. Negotiations with Colombia have stalled over Colombia’s demands for access for better terms for its fruit and flower exports than what Korea gives Chile and Peru. Seoul is also looking to open discussions with Mercosur, Malaysia, Mexico and possibly Israel.
last update: May 2012
Photo: Joe Mabel / CC BY-SA 3.0
South Korea is "positively considering" joining an Indo-Pacific economic pact planned by the United States, a government official said.
Israel is accelerating efforts to sign free trade agreements with East Asian economic powers and Israel’s vehicle market is likely to benefit from this over the coming months.
With the Korean government last year having ratified three conventions, including one prohibiting the use of forced labor, it has now ratified seven of eight core ILO conventions. Meanwhile, the US has ratified only two.
South Korea and Turkey checked the outcome of their free trade agreement that went into effect nine years ago and discussed ways to further deepen trade and investment ties.
South Korea and Mexico have agreed to resume negotiations to forge a bilateral free trade agreement 14 years after their suspension.
South Korea and Britain have agreed to launch talks this year to upgrade their free trade deal in a move to deepen ties in digital trade and other new issues.
A bill authorising the ratification of the Cambodia-Korea Free Trade Agreement (CKFTA) has been promulgated into law, moving the two Asian nations into the final stretch for the enactment of the deal
Oil traders are turning their focus to a potential trade agreement between South Korea and some major Persian Gulf producers that may reduce prices of Middle Eastern crude in the months to come.
South Korea and Egypt agreed to conduct a joint feasibility study on a bilateral free trade agreement.
A potential free trade agreement between the two sides will increase mutual benefits in the fields of goods, service, investment, intellectual property and energy, said Korean President.
KoPA is a coalition of around 50 NGOs, social movement organizations, political parties, peasant organizations and trade unions working, among other things, to stop bilateral and regional free trade agreements and the WTO.