South Korea has concluded free trade agreements (FTAs) and other agreements with a trade component with countries around the world and is negotiating with others.
No. [1] | State | Commenced negotiation | Officially Signed | Fully enforced | Notes | |
---|---|---|---|---|---|---|
1 | Chile | 14 December 1999 | 15 February 2003 | 1 April 2004 | South Korea's first-ever FTA | |
2 | Singapore | 27 January 2004 | 4 August 2005 | 2 March 2006 | ||
3 |
European Free Trade Association
( Iceland, Liechtenstein, Norway and Switzerland) |
18 January 2005 | 15 December 2005 | 1 September 2006 | South Korea's first FTA with a regional block | |
4 |
ASEAN
( Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) |
23 February 2005 | 24 August 2006 (goods) | 1 June 2007 (goods) | agreements on goods, service and investment signed gradually from 2006 to 2009;
agreement on goods enforced in 2007 and others in 2009 | |
21 November 2007 (service) | 1 May 2009 (service) | |||||
2 June 2009 (investment) | 1 September 2009 (investment) | |||||
5 | India | 23 March 2006 | 7 August 2009 | 1 January 2010 | see Comprehensive Economic Partnership Agreement between India and South Korea | |
6 | European Union and its member states | 7 May 2007 | 6 October 2010 | (1 July 2011)
13 December 2015 |
see
European Union–South Korea Free Trade Agreement;
enforced provisionally from 2011 and fully from 2015; [2] EU's first trade agreement with environmental and labour components [3] | |
7 | Peru | 16 March 2009 | 21 March 2011 | 1 August 2011 | see South Korea–Peru Free Trade Agreement | |
8 | United States | 5 June 2006 | 30 June 2007 | 15 March 2012 | see
United States–Korea Free Trade Agreement;
signed under Obama administration [4] and revised under Trump administration [5] | |
5 January 2018 (revised) | 24 September 2018 (revised) | 1 January 2019 (revised) | ||||
9 | Turkey | 26 April 2010 | 1 August 2012 (framework and goods) | 1 May 2013 (framework and goods) | on framework and goods initially and service and investment three years later | |
26 May 2015 (service and investment) | 1 August 2018 (service and investment) | |||||
10 | Australia | 19 May 2009 | 8 April 2014 | 12 December 2014 | see Australia–Korea Free Trade Agreement | |
11 | Canada | 28 July 2005 | 22 September 2014 | 1 January 2015 | see Canada–Korea Free Trade Agreement | |
12 | China | 14 May 2012 | 1 June 2015 | 20 December 2015 | see China–South Korea Free Trade Agreement | |
13 | New Zealand | 8 June 2009 | 23 March 2015 | 20 December 2015 | ||
14 | Vietnam | 6 August 2012 | 5 May 2015 | 20 December 2015 | ||
15 | Colombia | 7 December 2009 | 21 February 2013 | 15 July 2016 | ||
16 | Central America
( Panama, Costa Rica, Honduras, El Salvador and Nicaragua) |
18 June 2015 | 21 February 2018 | 1 March 2021 | Later, Guatemala joined as a new member of the agreement. | |
17 | United Kingdom | 24 February 2017 | 22 August 2019 | 1 January 2021 | never "negotiated" as prohibited by EU rules;
aimed at maintaining the trade relations two countries enjoyed under EU-SK FTA before Brexit [6] and subject to re-negotiation in two years [7] | |
18 | ASEAN member states, China, Japan, Australia and New Zealand | 9 May 2013 | 15 November 2020 | 1 February 2022 | see
Regional Comprehensive Economic Partnership;
from February 2022 [8] | |
19 | Indonesia | 7 July 2012 | 18 December 2020 | 1 January 2023 [9] | see Indonesia–Korea Comprehensive Economic Partnership Agreement | |
20 | Israel | 27 June 2016 | 12 May 2021 | 1 January 2023 | South Korea's first FTA in Middle East and Israel's first in Asia [10] | |
21 | Ecuador | 26 January 2016 | 11 October 2023 | SECA (Strategic Economic Cooperation Agreement) [11] first negotiation commended in 2006 but stalled since; In February 2022 both parties agreed to complete negotiations in 2022 [12] [13] | ||
22 | United Arab Emirates | October 2022 | 14 October 2023 [14] | UAE-Korea Comprehensive Economic Partnership Agreement [14] | ||
23 |
Gulf Cooperation Council
( Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) |
9 July 2008 | 28 December 2023 [15] | First negotiation commenced in 2008 upon President
Roh's visit to
Riyadh but later halted by GCC in 2010;
[16]
resumed negotiation in 2022 upon President Moon's visit to Riyadh [17] | ||
24 | Central America + | October 2021 | 9 January 2024 [14] | Participated as a new member of the Central America-South Korea Comprehensive Economic Partnership Agreement. [14] |
No. | State | Commenced negotiation | Officially Signed | Notes |
---|---|---|---|---|
1 | Cambodia | 30 July 2020 | 26 October 2021 [18] | |
2 | Philippines | 4 June 2019 | N/A | concluded negotiations in 2021 [19] |
3 | Singapore | 29 July 2020 | N/A | Digital Partnership Agreement on digital trade;
concluded negotiations in 2021 [20] |
No. | State | Commenced negotiation | Notes |
---|---|---|---|
1 | China, Japan | 26 March 2013 | see China–Japan–South Korea Free Trade Agreement |
2 |
Mercosur*
( Argentina, Brazil, Paraguay and Uruguay) |
11 September 2018 | without Venezuela who is suspended of Mercosur membership [21] |
3 | Russia | 21 June 2019 | on service and investment |
4 | Malaysia | 11 July 2019 | |
5 | Uzbekistan | 26 April 2021 | STEP (Agreement for Sustainable Trade and Economic Partnership) |
6 | Chile, New Zealand, Singapore | 2021 | see Digital Economy Partnership Agreement [22] |
7 | Pacific Alliance( Chile, Colombia, Mexico and Peru) | aims to begin in 2022 [23] | as an associate member of the block [24] |
8 | Mexico | 7 February 2006
aims to begin in 2022* [25] |
first negotiation commended in 2006 but halted in 2008 [13] |
9 | United Kingdom | 21 November 2023 [26] | see South Korea–United Kingdom Free Trade Agreement |
No. | Current Members | Expressed interest | Notes |
---|---|---|---|
1 | Chile, New Zealand and Singapore | 2021 [27] | see DEPA (Digital Economy Partnership Agreement) |
2 | Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam | 2021 [28] | see CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) |
South Korea has concluded free trade agreements (FTAs) and other agreements with a trade component with countries around the world and is negotiating with others.
No. [1] | State | Commenced negotiation | Officially Signed | Fully enforced | Notes | |
---|---|---|---|---|---|---|
1 | Chile | 14 December 1999 | 15 February 2003 | 1 April 2004 | South Korea's first-ever FTA | |
2 | Singapore | 27 January 2004 | 4 August 2005 | 2 March 2006 | ||
3 |
European Free Trade Association
( Iceland, Liechtenstein, Norway and Switzerland) |
18 January 2005 | 15 December 2005 | 1 September 2006 | South Korea's first FTA with a regional block | |
4 |
ASEAN
( Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) |
23 February 2005 | 24 August 2006 (goods) | 1 June 2007 (goods) | agreements on goods, service and investment signed gradually from 2006 to 2009;
agreement on goods enforced in 2007 and others in 2009 | |
21 November 2007 (service) | 1 May 2009 (service) | |||||
2 June 2009 (investment) | 1 September 2009 (investment) | |||||
5 | India | 23 March 2006 | 7 August 2009 | 1 January 2010 | see Comprehensive Economic Partnership Agreement between India and South Korea | |
6 | European Union and its member states | 7 May 2007 | 6 October 2010 | (1 July 2011)
13 December 2015 |
see
European Union–South Korea Free Trade Agreement;
enforced provisionally from 2011 and fully from 2015; [2] EU's first trade agreement with environmental and labour components [3] | |
7 | Peru | 16 March 2009 | 21 March 2011 | 1 August 2011 | see South Korea–Peru Free Trade Agreement | |
8 | United States | 5 June 2006 | 30 June 2007 | 15 March 2012 | see
United States–Korea Free Trade Agreement;
signed under Obama administration [4] and revised under Trump administration [5] | |
5 January 2018 (revised) | 24 September 2018 (revised) | 1 January 2019 (revised) | ||||
9 | Turkey | 26 April 2010 | 1 August 2012 (framework and goods) | 1 May 2013 (framework and goods) | on framework and goods initially and service and investment three years later | |
26 May 2015 (service and investment) | 1 August 2018 (service and investment) | |||||
10 | Australia | 19 May 2009 | 8 April 2014 | 12 December 2014 | see Australia–Korea Free Trade Agreement | |
11 | Canada | 28 July 2005 | 22 September 2014 | 1 January 2015 | see Canada–Korea Free Trade Agreement | |
12 | China | 14 May 2012 | 1 June 2015 | 20 December 2015 | see China–South Korea Free Trade Agreement | |
13 | New Zealand | 8 June 2009 | 23 March 2015 | 20 December 2015 | ||
14 | Vietnam | 6 August 2012 | 5 May 2015 | 20 December 2015 | ||
15 | Colombia | 7 December 2009 | 21 February 2013 | 15 July 2016 | ||
16 | Central America
( Panama, Costa Rica, Honduras, El Salvador and Nicaragua) |
18 June 2015 | 21 February 2018 | 1 March 2021 | Later, Guatemala joined as a new member of the agreement. | |
17 | United Kingdom | 24 February 2017 | 22 August 2019 | 1 January 2021 | never "negotiated" as prohibited by EU rules;
aimed at maintaining the trade relations two countries enjoyed under EU-SK FTA before Brexit [6] and subject to re-negotiation in two years [7] | |
18 | ASEAN member states, China, Japan, Australia and New Zealand | 9 May 2013 | 15 November 2020 | 1 February 2022 | see
Regional Comprehensive Economic Partnership;
from February 2022 [8] | |
19 | Indonesia | 7 July 2012 | 18 December 2020 | 1 January 2023 [9] | see Indonesia–Korea Comprehensive Economic Partnership Agreement | |
20 | Israel | 27 June 2016 | 12 May 2021 | 1 January 2023 | South Korea's first FTA in Middle East and Israel's first in Asia [10] | |
21 | Ecuador | 26 January 2016 | 11 October 2023 | SECA (Strategic Economic Cooperation Agreement) [11] first negotiation commended in 2006 but stalled since; In February 2022 both parties agreed to complete negotiations in 2022 [12] [13] | ||
22 | United Arab Emirates | October 2022 | 14 October 2023 [14] | UAE-Korea Comprehensive Economic Partnership Agreement [14] | ||
23 |
Gulf Cooperation Council
( Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) |
9 July 2008 | 28 December 2023 [15] | First negotiation commenced in 2008 upon President
Roh's visit to
Riyadh but later halted by GCC in 2010;
[16]
resumed negotiation in 2022 upon President Moon's visit to Riyadh [17] | ||
24 | Central America + | October 2021 | 9 January 2024 [14] | Participated as a new member of the Central America-South Korea Comprehensive Economic Partnership Agreement. [14] |
No. | State | Commenced negotiation | Officially Signed | Notes |
---|---|---|---|---|
1 | Cambodia | 30 July 2020 | 26 October 2021 [18] | |
2 | Philippines | 4 June 2019 | N/A | concluded negotiations in 2021 [19] |
3 | Singapore | 29 July 2020 | N/A | Digital Partnership Agreement on digital trade;
concluded negotiations in 2021 [20] |
No. | State | Commenced negotiation | Notes |
---|---|---|---|
1 | China, Japan | 26 March 2013 | see China–Japan–South Korea Free Trade Agreement |
2 |
Mercosur*
( Argentina, Brazil, Paraguay and Uruguay) |
11 September 2018 | without Venezuela who is suspended of Mercosur membership [21] |
3 | Russia | 21 June 2019 | on service and investment |
4 | Malaysia | 11 July 2019 | |
5 | Uzbekistan | 26 April 2021 | STEP (Agreement for Sustainable Trade and Economic Partnership) |
6 | Chile, New Zealand, Singapore | 2021 | see Digital Economy Partnership Agreement [22] |
7 | Pacific Alliance( Chile, Colombia, Mexico and Peru) | aims to begin in 2022 [23] | as an associate member of the block [24] |
8 | Mexico | 7 February 2006
aims to begin in 2022* [25] |
first negotiation commended in 2006 but halted in 2008 [13] |
9 | United Kingdom | 21 November 2023 [26] | see South Korea–United Kingdom Free Trade Agreement |
No. | Current Members | Expressed interest | Notes |
---|---|---|---|
1 | Chile, New Zealand and Singapore | 2021 [27] | see DEPA (Digital Economy Partnership Agreement) |
2 | Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam | 2021 [28] | see CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) |