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FTA Trend in Korea

HOME FTAFTA Trend in Korea

Currently, 22 FTAs have been concluded with 59 countries(effectuated and agreed)

As of December 2024

FTA Trend in Korea
Classification Countries Progress Significance

Entered into

force
(22 FTAs with
59 countries)

 Chile Entered into force
April 1, 2004		 First FTA concluded, Gateway for Latin American market penetration
Singapore Entered into force
March 2, 2006		 Gateway for ASEAN market penetration
EFTA1) (4countries) Entered into force
September 1, 2006		 Gateway for European market penetration
ASEAN2) (10countries) Entered into force
June 1, 2007		 First FTA with a major economic bloc
India Entered into force
January 1, 2010		 First FTA with a BRICs country, large market
EU3)
(27countries)		 Entered into force
July 1, 2011		 advanced economy
Peru Entered into force
August 1, 2011		 Gateway for Latin American market penetration and resource-rich country
U.S. Entered into force
March 15, 2012		 World’s largest economic bloc (by GDP)
Türkiye Entered into force
May 1, 2013		 Gateway for Europe and Central Asia market penetration
Australia Effectuated
December 12, 2014		 Major market in Oceania and resource-rich country
Canada Entered into force
January 1, 2015		 Advanced country in North America
China Entered into force
December 20, 2015		 The biggest trading partner of Korea  (As of 2023)
New Zealand Entered into force
December 20, 2015		 Major market in Oceania
Vietnam Entered into force
December 20, 2015		 5th largest trading partner of Korea (As of 2023)
Colombia Entered into force
July 15, 2016		 Emerging market of Central and South American market

Central

America4)
(5 countries)

 Entered into force
October 1, 2019 ~
March 1, 2021		 Creating a new market in Central America
United Kingdom Entered into force
January 1, 2021		 Maintain continuity of trade relations between Korea and the United Kingdom after Brexit
RCEP5) (15 countries) Entered into force
February 1, 2022		 Contribution to economic integration in East Asia
Israel Entered into force
December 1, 2022		 Start-up Nation Growth Model
Cambodia Entered into force
December 1, 2022		 Contribution of Southeast Asian Market Expansion
Indonesia Entered into force
January 1, 2023		 Contribution of Southeast Asian Market Expansion
Philippines Entered into force
December 31, 2024		 Contribution of Southeast Asian Market Expansion
Signed Guatemala(Central America) Signed
January 9, 2024		 Largest trading partner of Korea in Central America, Gateway for North-South America market penetration
Ecuador Signed
October 11, 2023		 Gateway for Middle-South America market penetration and resource-rich country
Concluded UAE Concluded
October 14, 2023		 Creating a new market in Middle East and resource-rich country
GCC6) (6 countries) concluded
December 28, 2023		 Gateway for Middle East market penetration and resource-rich country
GeorgiaEPA concluded
November 27, 2024		 Promising Country in the Caucasus region

  • 1) EFTA(4 countries) : Switzerland, Norway, Iceland, Liechtenstein
  • 2) ASEAN(10 countries) : Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Vietnam, Thailand
  • 3) 27 countries in Europe : Austria, Belgium, Bulgaria, Croatia, Cyprus, Czechia Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
  • 4) 5 countries in Central America: Nicaragua, Honduras, Costa Rica, El Salvador, Panama
  • 5) RCEP(Regional Comprehensive Economic Partnership) : Korea, 10 ASEAN member countries, China, Japan, Australia, New Zealand
  • 6) GCC(Gulf Cooperation Council): Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE