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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

Lee exhorts German businesses to invest
11-May-2011    
President Lee Myung-bak Tuesday urged major German companies to expand their investments in Korea, stressing that his country’s free-trade network will help European firms’ business in other foreign markets.
DP’s Sohn apologizes for flip-flopping on EU FTA
10-May-2011    
Democratic Party leader Sohn Hak-kyu apologized to the people for the chaos around the ratification of the Korea-EU free trade agreement, which he promised to support and then backed away from, stressing he wasn’t opposed to the deal itself, but was “against the insufficient bill.”
How will free trade deal with EU affect Korea`s farmers?
6-May-2011    
The National Assembly has ratified the free trade agreement with the European Union, which will allow the deal to take effect in July.
EU FTA can boost exports of S. Korean SMEs: KOTRA
5-May-2011    
The free trade agreement (FTA) with the European Union (EU) that was ratified by South Korea's parliament can boost exports of products made by local small and medium-sized enterprises (SMEs), a state-run trade promotion agency said Thursday.
Opposition camp faces discord over FTA bill
5-May-2011    
Opposition parties face rough sailing to solidarity due to the conflict over the passage of the Korea-EU Free Trade Agreement bill Wednesday night.
Standoff in Assembly over passage of EU FTA
29-Apr-2011    
The prospect of ratifying the free trade agreement between Korea and the European Union before the end of April legislative session appeared to have dimmed as the Democratic Party made clear its opposition.
EU FTA may be in jeopardy
28-Apr-2011    
The National Assembly’s Foreign Affairs and Trade Committee yesterday finally approved the country’s long-stalled free trade agreement with the European Union. But the DP quickly threw a wrench into the process.
Parties argue over how to help EU-FTA transition
24-Apr-2011    
The government and the ruling Grand National Party are at odds over how to minimize the damage that the pending free trade deal with the European Union would inflict on the domestic livestock farm business.
Busy days as Korea-EU trade agreement nears
11-Apr-2011    
The history of the British Chamber of Commerce in Korea, or the BCCK, dates back to 1977 when seven British businessmen began holding regular meetings to discuss issues about promoting business in Korea.
"Trade minister to be held responsible for EU FTA fiasco"
8-Apr-2011    
Korean Trade Minister Kim Jong-hoon, who is considered his government’s leading trade expert, is on the brink of resignation over translation errors in the Korean version of the Korea-European free trade agreement.

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...