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Korea's FTAs in Force

Currently, 15 FTAs have been concluded with 52 countries (effectuated and agreed)

(as of Dec 31, 2016)
notice
Classification Countries Progress Note Significance
Effectuated
(15 FTAs with 52 countries)
Chile Effectuated
April 1, 2004
Concluded in October 2002 First FTA concluded Bridge-head for Latin American market penetration
Singapore Effectuated
March 2, 2006
Concluded in November 2004 Bridge-head for ASEAN market penetration
EFTA Effectuated
September 1, 2006
Concluded in July 2005 Bridge-head for Europe market penetration
ASEAN Effectuated
June 1, 2007
Goods: June 2007/Service: May 2009 Investment: September 2009/Whole: November 2010 First FTA with world’s large economic bloc
India Effectuated
January 1, 2010
Signed in August 2009 BRICs, huge market
EU(28countries) Effectuated
July 1, 2011
Signed in October 2010 World’s largest economic bloc (based on GDP)
Peru Effectuated
August 1, 2011
Signed in March 2011 Resource-affluent country Bridge-head for Latin American market penetration
U.S. Effectuated
March 15, 2012
Signed in June 2007 Additional negotiation concluded in December 2010 Huge and advanced economy
Turkey Effectuated
May 1, 2013
Signed on Framework Agreement and Agreement on Trade in Goods in August 2012 (Service & Investment: Not effectuated) Bridge-head for Europe and Central Asia market penetration
Australia Effectuated
December 12, 2012
Signed in April 8, 2014 Ratification of National Assembly in December 2, 2014 Resource-affluent country Major market in Oceania
Canada Effectuated
January 1, 2015
Signed in September 23, 2014 Ratification of National Assembly in December 2, 2014 Advanced country of North America
China Effectuated
December 20, 2015
Signed in June 1, 2015 Ratification of National Assembly in November 30, 2015 Largest trading partner of Korea (As of 2015)
New Zealand Effectuated
December 20, 2015
igned in March 23, 2015 Ratification of National Assembly in November 30, 2015 Major market in Oceania
Vietnam Effectuated
December 20, 2015
Signed in May 5, 2015 Ratification of National Assembly in November 30, 2015 Third largest investment destination of Korea (As of September 2015)
Colombia Effectuated
July 15, 2016
Ratification of National Assembly in April 29, 2014 Resource-affluent country Emerging market of Central and South American market
Under Negotiation
(8 FTAs with 24 countries)
Korea·China·Japan 10th negotiation with chief delegates
June 2016
11th negotiation to be held Establishment of foundation for economic integration in Northeast Asia
RCEP 16th negotiation
December 2016
17th negotiation to be held Contribution to economic integration in East Asia
6 countries in Central America Declaration of conclusion
November 2016
Legal review to be scheduled in December 2016 Creating a new market in Central America
Ecuador 5th negotiation
November 2016
6th negotiation to be held Resource-affluent country Bridge-head for Latin American market penetration
Israel 2nd negotiation
December 2016
3rd negotiation to be held Model country for creative economy
ASEAN - Revision 14th implementation committee
July 2016
Under negotiation on the implementation committee schedule Trade expansion and reflection of change in trade environment
India - Revision 1st negotiation
October 2016
2nd negotiation to be held Granting preference to leading exports and improving origin criteria for trade expansion
Chile - Revision Declaration of negotiation initiation
November 2016
1st negotiation to be held Rflection of change in trade environment

1) EFTA(4 countries) : Switzerland, Norway, Iceland, Liechtenstein
2) ASEAN(10 countries) : Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Vietnam, Thailand
3) RCEP(Regional Comprehensive Economic Partnership) : Korea, 10 ASEAN member countries, China, Japan, India, Australia, New Zealand
4) 6 countries in Central America: Panama, Costa Rica, Guatemala, Honduras, El Salvador, Nicaragua

Source : MOTIE