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Korea

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


Widening inequality: IMF acknowledges downsides of globalization
Korean government officials are trying to downplay concerns by anti-globalization and anti-FTA protesters including farmers that the Korea-US trade deal may lead to subjugation of the Korean economy to the United States. But a recent IMF report says that technology and foreign investment are worsening income inequality around the world.
S. Korea set to speed up efforts for free trade pacts with Latin American nations
South Korea is ready to accelerate its efforts to sign free trade agreements with Mexico and Mercosur, the country’s top economic policymaker said Monday.
S. Korea has two-track FTA plan for entering advanced, developing markets: official
South Korea has a two-track free trade promotion plan aimed at winning market access in both advanced and developing economies.
S. Korea, Peru agree to begin FTA discussions
South Korea and Peru agreed to launch discussions on forming a bilateral free trade agreement during a summit between South Korean President Roh Moo-hyun and Peruvian President Alan Garcia
Imports up, exports down one year after Korea-EFTA FTA
A year after a trade deal between Korea and the European Free Trade Association (EFTA) went into effect last September, Korea’s largest trade group said that imports from the four-nation bloc hiked while exports dipped heavily.
South Korea may discuss free trade deal with North in summit
South Korea is considering discussing a potential free trade agreement (FTA) with North Korea during the second summit of the leaders of the two Koreas late this month
S Korea, Mexico agree to resume free trade talks
South Korea and Mexico officially have agreed to resume their negotiations for a full free trade agreement (FTA), which is expected to contribute not only to economic ties but the political partnership between the two countries
Research institute recommends inter-Korean trade agreement
A private think-tank claims that South and North Korea should work on signing a free trade pact to prompt changes in the communist country and eventually achieve consolidation of the two divided Koreas.
Korea, Russia agree to pilot FTA talks
Korea has agreed with Russia to launch study group talks on a bilateral free trade agreement in September.
Pres. Roh says Seoul’s FTA with Beijing inevitable
Korean President Roh Moo-hyun said Seoul’s signing of a free-trade pact with Beijing is inevitable but the timing must be right.