The government of South Korea and nine members of the Association of South-East Asian Nations (Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, and Vietnam) signed an FTA together in May 2006, which took effect in July 2006.
Due to concerns about agriculture, particularly the deal’s provisions on rice and livestock, Thailand negotiated separate arrangements with the Korean government to join the pact in early 2009. Korea is also interested in a separate, higher level FTA with Malaysia.
last update: May 2012
Photo: Joe Mabel / CC BY-SA 3.0
ASEAN is currently in the process of upgrading its existing free trade agreement with dialogue partner South Korea, according to Satvinder Singh, the deputy secretary-general for ASEAN Economic Community.
The Cambodia-Korea Free Trade Agreement comes into force and will be used by two parties to encourage more investors from The Republic of South Korea to invest in the Kingdom and export products to the Korean counterpart and third countries.
Manila and Seoul target to conclude discussions of their bilateral free trade agreement (FTA) in order to sign the trade pact by first quarter of next year, the Department of Trade and Industry (DTI) said.
Korea suggested a new agreement on digital technology and systems with the Association of Southeast Asian Nations (ASEAN) countries under their free trade pact in a move to further bolster bilateral economic ties, Seoul’s trade ministry said.
The National Assembly of Cambodia on Wednesday ratified the bilateral free trade agreement between Cambodia and South Korea.
South Korea has concluded a free trade agreement with the Philippines in a move expected to bolster ties with the Southeast Asian nation and help diversify South Korea’s trade portfolio.
South Korea on Monday proposed a new pact on digital trade with Southeast Asia to cope with the changing global business environment and forge deeper economic ties with the region.
South Korea’s trade ministry it has launched talks with ASEAN to update their free trade agreement (FTA) and further lower trade barriers.
The formal signing of the Cambodia-South Korea Free Trade Agreement (CKFTA), scheduled for mid-year, will be postponed due to disruptions from the Covid-19 outbreak stemming from the February 20 community incident, according to a spokesman for the Ministry of Commerce.
Indonesia’s and South Korea’s $9.1 billion electric car battery joint venture project has gotten a boost after the two countries signed a comprehensive investment and trade deal.