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- Negotiations and agreements
Free Trade Agreement
1 July 2021 marked the 10th anniversary of the EU-Republic of Korea free trade agreement. The agreement eliminates duties for industrial and agricultural goods in a progressive, step-by-step manner.
Digital Trade Agreement
Digital trade refers to commerce enabled by electronic means – by telecommunications and/or ICT services – and covers trade in both goods and services. It affects all sectors of the economy and is highly important for European industry.
The goal of the future EU-Republic of Korea digital trade agreement is to:
- build consumer trust;
- ensure predictability and legal certainty for businesses, and;
- remove and prevent the emergence of unjustified barriers to digital trade.
The agreement will preserve the ability of the EU and the Republic of Korea to develop and implement the policies required to address new challenges posed by the digital economy, including to protect privacy and personal data.
About the agreements
The EU and the Republic of Korea meet regularly to discuss issues and best practices when applying the free trade agreement.
Round reports and EU textual proposal for the digital trade agreement.
EU-South Korea Trade in your town
The 2011 EU-South Korea trade deal eliminated customs duties enabling AustiAlpin, a climbing equipment maker, to start doing business there. The company now exports around 80% of its products and is eager to reap the benefits of more EU trade deals, such as with Canada.
Latest news
Joint statement by European Commission Executive Vice-President Valdis Dombrovskis and Korean Minister for Trade Dukgeun Ahn on the launch of negotiations on an EU-Korea digital trade agreement.
Trade in agricultural products between the EU and Korea is about to become a lot easier, thanks to the digitisation of procedures agreed today between the two partners.
Today, the Executive Vice-President and Commissioner for Trade Valdis Dombrovskis and Korean Minister for Trade Ahn Dukgeun co-chaired the 10th Trade Committee between the EU and the Republic of Korea.