European Union–South Korea Free Trade Agreement

The European Union–South Korea Free Trade Agreement is a free trade agreement between the European Union (EU) and South Korea. The agreement was signed on 15 October 2009. The agreement was provisionally applied from 1 July 2011, and entered into force from 13 December 2015, after having been ratified by all signatories.

European Union–South Korea Free Trade Agreement
South Korea (orange) and the European Union (green)
TypeTrade agreement
Signed6 October 2010
LocationBrussels, Belgium
Effective13 December 2015
ConditionRatification by all signatories
Provisional application1 July 2011
Signatories
Ratifiers30 (South Korea, the EU and its 27 member states
LanguagesKorean
All 21 official EU languages

The agreement was the most comprehensive the EU had ever negotiated up until that point: import duties are near eliminated on all produce and there is deep liberalisation in trade in services. It includes provisions for intellectual property (including geographical indications), public procurement, competition, transparency of regulation and sustainable development. There are also specific commitments against non-tariff obstacles on sectors such as automobiles, pharmaceuticals and electronics.

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