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.
Trade agreements in force
+No.StateCommenced negotiationOfficially SignedFully enforcedNotes114 December 199915 February 20031 April 2004South Korea's first-ever FTA227 January 20044 August 20052 March 20063European Free Trade Association (,, and )18 January 200515 December 20051 September 2006South Korea's first FTA with a regional block 4 ASEAN (,,, , ,,, , and ) 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 23 March 2006 7 August 2009 1 January 2010 see Comprehensive Economic Partnership Agreement between India and South Korea 6 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; EU's first trade agreement with environmental and labour components 7 16 March 2009 21 March 2011 1 August 2011 see South Korea–Peru Free Trade Agreement 8 5 June 2006 30 June 2007 15 March 2012 see United States–Korea Free Trade Agreement; signed under Obama administration and revised under Trump administration 5 January 2018 (revised) 24 September 2018 (revised) 1 January 2019 (revised) 9 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 19 May 2009 8 April 2014 12 December 2014 see Australia–Korea Free Trade Agreement 11 28 July 2005 22 September 2014 1 January 2015 see Canada–Korea Free Trade Agreement 12 14 May 2012 1 June 2015 20 December 2015 see China–South Korea Free Trade Agreement 13 8 June 2009 23 March 2015 20 December 2015 14 6 August 2012 5 May 2015 20 December 2015 15 7 December 2009 21 February 2013 15 July 2016 16 Central America (, , , and ) 18 June 2015 21 February 2018 1 March 2021 Later, Guatemala joined as a new member of the agreement. 17 24 February 2017 22 August 2019 1 January 2021 see South Korea–United Kingdom Free Trade Agreement. never "negotiated" as prohibited by EU rules; aimed at maintaining the trade relations two countries enjoyed under EU-SK FTA before Brexit and subject to re-negotiation in two years 18 ASEAN member states, , , and 9 May 2013 15 November 2020 1 February 2022 see Regional Comprehensive Economic Partnership; from February 2022 19 7 July 2012 18 December 20201 January 2023 see Indonesia–Korea Comprehensive Economic Partnership Agreement 20 27 June 2016 12 May 2021 1 January 2023South Korea's first FTA in Middle East and Israel's first in Asia 21 4 June 2019 7 September 2023 31 December 2024 22 26 January 2016 11 October 2023 SECA (Strategic Economic Cooperation Agreement) first negotiation commended in 2006 but stalled since; In February 2022 both parties agreed to complete negotiations in 2022 23 October 2022 14 October 2023 UAE-Korea Comprehensive Economic Partnership Agreement 24 Gulf Cooperation Council (, , , , , ) 9 July 2008 28 December 2023 First negotiation commenced in 2008 upon President Roh's visit to Riyadh but later halted by GCC in 2010; resumed negotiation in 2022 upon President Moon's visit to Riyadh 25 Central America + October 2021 9 January 2024 Participated as a new member of the Central America-South Korea Comprehensive Economic Partnership Agreement.
Trade agreements signed yet in force No.StateCommenced negotiationOfficially SignedNotes1 30 July 2020 26 October 20212 29 July 2020N/ADigital Partnership Agreement on digital trade; concluded negotiations in 2021
Trade agreements under negotiation No.StateCommenced negotiationNotes1, 26 March 2013see China–Japan–South Korea Free Trade Agreement2Mercosur* (,, and ) 11 September 2018without Venezuela who is suspended of Mercosur membership3 21 June 2019on service and investment4 11 July 20195 26 April 2021STEP (Agreement for Sustainable Trade and Economic Partnership)6, , 2021see Digital Economy Partnership Agreement7Pacific Alliance(, , and )aims to begin in 2022as an associate member of the block 87 February 2006 aims to begin in 2022*first negotiation commended in 2006 but halted in 2008921 November 2023 see South Korea–United Kingdom Free Trade Agreement
Trade agreements of interest No.Current MembersExpressed interestNotes1, and 2021see DEPA (Digital Economy Partnership Agreement)2, , , ,, , , , , , , and 2021see CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership)
See also Foreign relations of South Korea Free trade agreements of India Free trade agreements of New Zealand Free trade agreements of the European Union Free trade agreements of the United Kingdom Free trade agreements of the United States Free trade agreements of Turkey
References