Free Trade Agreements Executed by the Republic of Korea (“South Korea” or “Korea”)
South Korea currently maintains 21 comprehensive free trade agreements with a combined total of 59 countries. The chart below provides information on the countries with which these Korean FTAs are in force, the key dates of the free trade negotiation processes, and the significance of these agreements. The following chart is accurate as of December 1, 2022.
References of the chart can be found at the following web addresses:
| Partner Countries | Negotiations Launched | Signed | In Effect | Significance |
| Chile | 12/1999 | 02/2003 | 04/2004 | South Korea’s inaugural FTA. |
| Singapore | 01/2004 | 08/2005 | 03/2006 | First FTA with an ASEAN country. |
| EFTA[1] | 01/2005 | 12/2005 | 09/2006 | First FTA with European countries. |
| ASEAN[2] | 02/2005 | 08/2006 (Trade Agreement in Goods) | 06/2007 (Trade Agreement in Goods) | First FTA with one of the world’s largest trade blocs. |
| 11/2007 (Trade Agreement in Services) | 05/2009 (Trade Agreement in Services) | |||
| 06/2009 (Trade Agreement in Investment) | 09/2009 (Trade Agreement in Investment) | |||
| India | 03/2006 | 08/2009 | 01/2010 | First FTA with a BRICS[3] nation. |
| EU[4] | 05/2007 | 10/2010 | 07/2011 (Provisionally in Effect) 12/2015 (Fully Ratified) | |
| Peru | 03/2009 | 03/2011 | 08/2011 | First FTA with a Latin American country. |
| USA | 06/2006 | 06/2007 | 03/2012 | |
| 01/2018 (Revision Negotiations) | 09/2018 (Revision Negotiations) | 01/2019 (Revised Korea-U.S. FTA) | ||
| Turkey | 04/2010 | 08/2012 (Framework Agreements & Trade Agreements in Goods) | 05/2013 (Framework Agreements & Trade Agreements in Goods) | |
| 05/2015 (Trade Agreements in Services and Investment) | 08/2018 (Trade Agreements in Services and Investment) | |||
| Australia | 05/2009 | 04/2014 | 12/2014 | FTA with a key market in Oceania. |
| Canada | 07/2005 | 09/2014 | 01/2015 | |
| China | 05/2012 | 06/2015 | 12/2015 | South Korea’s No. 1 trading partner as of 2022. |
| New Zealand | 06/2009 | 03/2015 | 12/2015 | FTA with a key market in Oceania. |
| Vietnam | 08/2012 | 05/2015 | 12/2015 | South Korea’s No. 4 investment partner as of 2022. |
| Colombia | 12/2009 | 02/2013 | 07/2016 | |
| Central America[5] | 06/2015 | 02/2018 | 03/2021 | |
| United Kingdom | 02/2017 | 08/2019 | 01/2021 | Continuity of trade relations between the U.K. and South Korea after Brexit. |
| RCEP[6] | 11/2012 | 11/2020 | 02/2022 | |
| Israel | 05/2016 | 05/2021 | 12/2022 | South Korea’s growth model as a start-up nation. |
| Cambodia | 07/2020 | 05/2021 | 12/2022 | |
| Indonesia | 03/2012 | 12/2020 | 01/2023 |
[1] European Free Trade Agreement (4 countries): Switzerland, Norway, Iceland, and Liechtenstein
[2] Association of Southeast Asian Nations (10 countries): Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Vietnam, and Thailand
[3] Brazil, Russia, India, China, and South Africa
[4] European Union (27 countries): Austria, Belgium, Czechia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Bulgaria, Romania, and Croatia
[5] Panama, Costa Rica, Honduras, El Salvador, and Nicaragua
[6] Regional Comprehensive Economic Partnership (15 countries): South Korea, 10 ASEAN member countries, China, Japan, Australia, and New Zealand
The following trade agreements were executed by the government of the Republic of Korea and its counterpart.
To schedule a call with an attorney, please: Schedule a Call on the IPG Legal Website. For the profile of the author of this chart, please see: Sean Hayes
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