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Korea's FTA Status

우리나라 FTA 추진개황 이미지
  • 발효(11건)

    In effect (15 agreements)     Chile, Singapore, EFTA (4 countries), ASEAN (10 countries), India, EU (28 countries), Peru, USA, Turkey, Canada, Australia, China, New Zealand, Vietnam and Colombia

  • 타결(4건)

    Concluded (1 agreement) Turkey (Service & Investment Agreement)

  • 협상중(6건)

    Underway (9 agreements) Korea–China–Japan, RCEP, Central America (6 countries), Ecuador SECA, Israel, Indonesia, Japan, Mexico and GCC (6 countries)

                                        

Overview of Korea’s FTA Implementation
Status Country Implementation Process Significance

Entering into force

(15 agreements)

Chile
  • Dec. 1999 Negotiation launched
  • Feb. 2003 FTA signed
  • Apr. 2004 FTA entered into force
First FTA bridgehead for the Latin American market
Singapore

Jan. 2004 Negotiation launched

Aug. 2005 FTA signed

Mar. 2006 FTA entered into force

Bridgehead for the ASEAN Market
EFTA
(4 countries)
  • Jan. 2005 Negotiation launched
  • Dec. 2005 FTA signed
  • Sep. 2006 FTA entered into force
  • (*EFTA countries: Switzerland, Norway, Iceland, Liechtenstein)
Bridgehead for the European Market
ASEAN
(10 countries)
  • Feb. 2005 Negotiation launched
  • Aug. 2006 Trade in Goods Agreement signed
  • Jun. 2007 Trade in Goods Agreement entered into force
  • Nov. 2007 Trade in Service Agreement signed
  • May 2009 Trade in Service Agreement entered into force
  • Jun. 2009 Investment Agreement signed
  • Sep. 2009 Investment Agreement entered into force
  • (*ASEAN countries: Malaysia, Singapore, Vietnam, Myanmar, Indonesia, the Philippines, Brunei, Laos, Cambodia, Thailand)
First FTA signed with a mega economic bloc
India
  • Mar. 2006 Negotiation launched
  • Aug. 2009 FTA signed
  • Jan. 2010 FTA entered into force
BRICs country with a large market

EU

(28 countries)

  • May 2007 Negotiation launched
  • Jul. 2009 Negotiation concluded
  • Oct. 15, 2009 FTA initialled
  • Oct. 6, 2010 FTA officially signed
  • Jul. 1, 2011 FTA tentatively entered into force
  • Dec. 13, 2015 FTA fully entered into force (tentatively effective for 4 years and 5 months since Jul. 1, 2011)
  • (*EU 28 countries: Austria, Belgium, UK, the Czech Republic, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Molta, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Bulgaria, Rumania, Croatia)
The world’s largest economic bloc
(in terms of GDP)
Peru
  • Mar. 2009 Negotiation launched
  • Aug. 2010 Negotiation concluded
  • Nov. 2010 FTA initialled
  • Mar. 21, 2011 FTA officially signed
  • Aug. 1, 2011 FTA entered into force

Resource-rich country

Bridgehead for the Latin American market

USA
  • Jun. 2006 Negotiation launched
  • Jun. 2007 FTA signed
  • Dec. 2010 Additional negotiation concluded
  • Oct. 22, 2011 'Korea-US FTA Implementation Act' passed US congress
  • Nov. 22, 2011 Ratification motion and14 auxiliary bills passed National Assembly plenary session 
  • Mar. 15, 2012 FTA entered into force
Large and advanced economy

Turkey

  • Jun. 2008 – May 2009 Joint study, four rounds of official negotiations held (Apr. 2010 – Mar. 2012)
  • Aug. 1, 2012 Baseline agreement and Trade in Goods Agreement signed
  • Nov. 22, 2012 FTA ratified by the National Assembly
  • May 1, 2013 FTA entered into force
Bridgehead for Europe and Central Asia

Australia

  • May 2009 FTA negotiation announced, seven rounds of negotiations held (May, Aug., Nov., 2009 / Mar., May, 2010 / Nov., Dec., 2013)
  • Dec. 4, 2013 Conclusion of FTA negotiation announced
  • Feb. 10, 2014 FTA initialled
  • Apr. 8, 2014 FTA officially signed
  • Dec. 2, 2014 Korea–Australia FTA bill passed National Assembly plenary session
  • Dec. 12, 2014 FTA entered into force

Resource-rich country and major market in Oceania

Canada
  • Jul. 2005 FTA negotiation announced, 14 rounds of negotiations held (Jul., Sep., Nov., 2005 / Feb., Apr., Jun., Sep., Nov., 2006 / Jan., Apr., Oct., Nov., 2007 / Mar. 2008 / Nov. 2013)
  • Mar. 11, 2014 FTA negotiation concluded
  • Jun. 12, 2014 FTA initialled
  • Sep. 23, 2014 FTA officially signed 
  • Dec. 2, 2014 Korea–Canada FTA bill passed National Assembly plenary session
  • Jan. 1, 2015 FTA entered into force
Advanced market in North America

China

  • Mar. 2007 – May 2010 Joint study involving government, business, and academia followed by working–level discussion to deal with sensitive sectors
  • May 2, 2012 Launching of negotiation announced
  • 14 rounds of negotiations held (May., Jul., Aug., Oct., 2012 / Apr., Jul., Sep., Nov., 2013 / Jan., Mar., May, Jul., Sep., Nov., 2014)
  • Nov. 10, 2014 Conclusion of negotiation  announced
  • Feb. 25, 2015 FTA initialled
  • Jun. 1, 2015 FTA officially signed
  • Aug. 31, 2015 Ratification of the Korea-China FTA forwarded to the National Assembly
  • Nov. 30, 2015 FTA bill ratified by the National Assembly
  • Dec. 20, 2015 FTA went into effect 
Korea's largest trading partner (As of 2015)

New Zealand

  • Feb. 2007 – Mar. 2008 Private joint study
  • Temporarily suspended after four rounds of official negotiations
  • Dec. 3, 2013 FTA negotiation resumed, five rounds of negotiations conducted (Feb., Mar., Jun., Aug., Oct., 2014)
  • Nov. 15, 2014 Conclusion of negotiation announced
  • Dec. 11, 2014 FTA initialled
  • Mar. 23, 2015 FTA officially signed
  • Nov. 30, 2015 FTA ratified by the National Assembly
  • Dec. 20, 2015 FTA went into effect

Key market in Oceania

Vietnam
  • Nov. 2011 Joint research report completed
  • Aug. 6, 2012 FTA negotiation announced, nine rounds of negotiations held (Sep. 2012 / May, Oct., 2013 / Mar., May, Jul.~Aug., Sep.~Oct., Nov., Dec., 2014)
  • Dec. 10, 2014 Conclusion of FTA negotiation announced
  • Mar. 28, 2015 FTA initialled
  • May 5, 2015 FTA officially signed
  • Nov. 30, 2015 FTA ratified by the National Assembly
  • Dec. 20, 2015 FTA went into effect

Korea’s third largest investment destination

(As of Sep. 2015)

Colombia
  • Mar.~Aut. 2009 Private joint study, six rounds of official negotiations held (Dec. 2009 / Mar., Jun., Oct., 2010 / Oct. 2011 / Apr. 2012)
  • Jun. 25, 2012 Conclusion of negotiation announced
  • Aug. 31, 2012 FTA initialled
  • Feb. 21, 2013 FTA officially signed
  • Apr. 29, 2014 FTA ratified by the National Assembly
  • Jul. 15, 2016 FTA went into effect

Resource-rich country and emerging market in Latin America

 

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Please use the information above for reference purposes only and confirm the final information with relevant domestic law or administrative agencies.

The information above is provided by the Korea International Trade Association.

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