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Korean Free Trade Agreements: Korean FTA Chart

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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