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FTA Trend in Korea

HOME FTAFTA Trend in Korea

Currently, 21 FTAs have been concluded with 59 countries(effectuated and agreed)

As of November 2023

FTA Trend in Korea
Classification Countries Progress Significance
Effectuated
(21 FTAs with
59 countries)		 Chile Effectuated
April 1, 2004		 First FTA concluded bridgehead for Latin American market penetration
Singapore Effectuated
March 2, 2006		 Bridgehead for ASEAN market penetration
EFTA Effectuated
September 1, 2006		 Bridgehead for Europe market penetration
ASEAN Effectuated
June 1, 2007		 First FTA with world’s large economic bloc
India Effectuated
January 1, 2010		 First FTA with one of BRICs, huge market
EU
(27countries)		 Effectuated
July 1, 2011		 World’s largest economic bloc (based on GDP)
Peru Effectuated
August 1, 2011		 Bridgehead for Latin American market penetration
U.S. Effectuated
March 15, 2012		 Huge and advanced economy
Turkiye Effectuated
May 1, 2013		 Bridgehead for Europe and Central Asia market penetration
Australia Effectuated
December 12, 2014		 Major market in Oceania
Canada Effectuated
January 1, 2015		 Advanced country of North America
China Effectuated
December 20, 2015		 Largest trading partner of Korea
New Zealand Effectuated
December 20, 2015		 Major market in Oceania
Vietnam Effectuated
December 20, 2015		 3th trading partner of Korea (As of 2022)
Colombia Effectuated
July 15, 2016		 Emerging market of Central and South American market

Central

America
(5 countries)

 Effectuated
October 1, 2019 ~
March 1, 2021		 Creating a new market in Central America
United Kingdom Effectuated
January 1, 2021		 Maintain continuity of trade relations between Korea and the United Kingdom after Brexit
RCEP Effectuated
February 1, 2022		 Contribution to economic integration in East Asia
Israel Effectuated
December 1, 2022		 Start-up Nation Growth Model
Cambodia Effectuated
December 1, 2022		 Contribution of Southeast Asian Market Expansion
Indonesia Effectuated
January 1, 2023		 Contribution of Southeast Asian Market Expansion
Signed Philippines Signed
October 26, 2021		 Contribution of Southeast Asian Market Expansion
Ecuador Signed
October 11, 2023		 Bridgehead for Latin American market penetration
  • 1) EFTA(4 countries) : Switzerland, Norway, Iceland, Liechtenstein
  • 2) ASEAN(10 countries) : Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Vietnam, Thailand
  • 3) 27 countries in Europe : Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
  • 4) 5 countries in Central America: Nicaragua, Honduras, Costa Rica, El Salvador, Panama
  • 5) RCEP(Regional Comprehensive Economic Partnership) : Korea, 10 ASEAN member countries, China, Japan, Australia, New Zealand