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  1. Negotiations

EU-Korea


In May 2007, the European Union and South Korea started negotiating a bilateral free trade agreement. It took effect on 1 July 2011.

This deal is part of the EU’s post-2006 "Global Europe" strategy to boost the competitiveness of EU corporations in the world by securing deeper commitments to neoliberal policies from trading partners, including expanded rights for European transnationals. In Korea, the European Union is trying to win equal, if not better, footing against US firms after the conclusion of the US-Korea FTA. (The EU makes stronger demands than the US on Korea in the areas of intellectual property, services, competition policy and environmental standards.)

Social movements from both sides mobilised against the deal’s potential impacts. One flashpoint of concern is for Korea’s agricultural sector, where pig farmers in particular are expected to suffer from an influx of subsidised EU pork as a result of this deal.

last update: May 2012
photo: European External Action Service - EEAS/CC BY-NC-ND 2.0

EU ratification process of FTA with South Korea done and dusted
7-Oct-2015     Vieuws
The European Commission intends to announce in mid October its plans to revise the deal in order to add the missing investment protection chapter to it.
Korea: Trade deficit with EU exceeds $10 billion
30-Jan-2015     Chosun Ilbo
It all started after the FTA went into effect. Korea had posted 11 straight years of trade surpluses with the EU from 1998 to 2011, but the balance shift into the red in 2012.
Trade commission recognizes damage from EU FTA to S. Korean firms
27-Sep-2013     Yonhap
So far, 40 Korean companies have claimed damage from the country's FTAs, with 18 of them claiming damage from the Korea-EU FTA. Out of the total, 30 have been awarded damage.
Trade commission recognizes damage from Korea-EU FTA
27-Jun-2013     Yonhap
South Korea's trade commission has recognized damage to a local company from the country's bilateral free trade agreement with the European Union, the government said Thursday.
Auto : Bruxelles veut évaluer les accords de libre-échange
8-Nov-2012     Les Echos
La Commission Européenne devrait annoncer que des études d'impact vont être menées sur tous les accords de libre-échange signés, notamment celui conclu avec la Corée du Sud.
EU refuses French bid to monitor Korea car imports
23-Oct-2012     Reuters
The European Commission has turned down France's request that imports of cars from South Korea be subject to checks, which could have led to duties being reimposed despite a free-trade deal struck last year.
Libre-échange auto: la Corée s'insurge contre la France
9-Aug-2012     La Tribune
Le gouvernement sud-coréen réfute les allégations de la France, selon lesquelles le marché tricolore serait envahi de voitures produites en Corée.
EU mulls French request for surveillance of S.Korea car imports
6-Aug-2012     Reuters
The European Union is examining a request by France to require South Korea to give advanced warning of planned car exports to the EU, the first step towards the possible re-introduction of duties a year after a free-trade deal came into effect.
Carmakers dampen EU free-trade drive
7-Jul-2012    
South Korea's biggest car maker, Hyundai Motor Co, decided to boost its European presence five years ago, adding a family sedan and a sporty-looking crossover SUV to its smaller hatchbacks.
Exports to EU dwindle 12% after FTA
2-Jul-2012     Chosun Ilbo
Korea's exports to the EU dwindled 12% since the Korea-EU FTA went into effect one year ago, while imports grew 13%.

Referenced sites

EU-Korea FTA SIA

The EU-Korea FTA Trade Sustainability Impact Assessment (SIA) is intended to produce studies in order to provide a deeper understanding of the sustainability...