Free Trade Agreement


What is a FTA?

A FTA or Free Trade Agreement is a policy aimed at promoting the development of international trade by eliminating tariffs, quotas and national regulations which may restrict the import or export of goods and services (Source). It applies only to products manufactured and exported to the countries involved in the agreement. Please note that the goods must travel directly to its final destination WITHOUT transit in order to enjoy benefits of the FTA.


Which countries are involved?

As a complement of the countries cited above, here is the list of those countries involved in the EU-Korea FTA and EFTA-Korea FTA.

  • In the EU-Korea FTA:

The European Union is comprised of 27 countries: Austria, Belgium, Bulgaria, the Czech Republic, Croatia (from July 1, 2013), Cyprus, Denmark, Estonia, France, Finland, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the United Kingdom. Click here for a complete map of the countries of the European-Union.

  • In the EFTA (European Free Trade Association):

The EFTA is composed of Switzerland, Norway, Iceland and Liechtenstein.


With whom has South Korea signed an FTA?

The Republic of Korea has signed FTAs with several countries and regions from all around the world. In 2004, Korea settled an FTA with Chile;in 2006 with Singapore and the EFTA (European Free Trade Association); in 2010 with India; in 2011 with Peru and the European Union (list of the EU's Member States below); and in 2012 with the United States.

In 2012, Korea is also currently negotiating FTAs with Australia, Canada, Columbia, Mexico, New Zealand and Turkey.


TN Consulting - map FTA

 Map of the current FTAs signed with South Korea in 2012


For more information, please consult the following resources:

- EU-Korea FTA:

  • The EU-Korea Free Trade Agreement in practice: Click here
  • The top ten benefits of the EU-Korea agreement: Click here
  • Trade information between the EU and South Korea: Click here