- 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
6-Jul-2006
A special luncheon was held in downtown Seoul on July 4, 2006 to explain the advantages and disadvantages of a Korea-EU FTA. The European Union Chamber of Commerce Korea hosted the event.
16-Jun-2006
The chief of South Korea’s trade promotion agency Friday called for Korea to pursue a free trade agreement (FTA) with the European Union (EU) as soon as possible.
12-Jun-2006
Yonhap
A free trade agreement (FTA) between South Korea and the European Union will bring greater benefits to Asia’s fourth-largest economy than a similar trade pact with the United States, reports showed Sunday.
18-May-2006
Forbes
South Korea and the European Union have agreed to hold preliminary talks that could lead to the establishment of a free trade agreement (FTA).
