South Korea Trade Agreements List

South Korea Trade Agreements List

The Republic of Korea and the United States have implemented the United States and Korea. Free Trade Agreement of March 15, 2012 (amended september 2018). The agreement is the largest free trade agreement (NAFTA) negotiated by the United States since NAFTA. For more information on the KORUS Free Trade Agreement, see www.ustr.gov/trade-agreements/free-trade-agreements/korus-fta. The Republic of Korea is a member of the World Trade Organization (WTO) and has signed subsidiary agreements, including TRIPs (Trade Related Aspects of Intellectual Property) and the Agreement on Government Procurement. Korea has been a member of the Organisation for Economic Co-operation and Development (OECD) since December 1996. South Korea now accepts INTERNATIONAL UNECE or EU standards as equivalent to all major South Korean technical regulations. If your vehicles meet these standards, your product does not have to meet additional requirements to be exported under the EU-South Korea trade agreement. The EU-South Korea Free Trade Agreement promotes the enforcement of intellectual property rights by customs authorities and complements the minimum standards of the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Since 2011, the EU-South Korea trade agreement has removed tariffs on almost all products. In addition, many other barriers to the export of EU products such as automobiles, pharmaceuticals, electronics and chemicals have been removed. Many services between the EU and South Korea have also been opened to investors and commercial companies. The EU-South Korea Free Trade Agreement had been provisionally in force since July 2011, before its formal ratification in December 2015.

The agreement establishes a customs committee capable of discussing and settling all differences in tariffs and trade facilitation, including the EU-South Korea trade agreement protecting European Geographical Indications (GIs) for the EU and South Korea by establishing standards and conformity assessments to facilitate international trade. This ensures that you do not waste money and/or time on double or multiple procedures. The rules of origin are laid down in the Protocol concerning the definition of the concept of `originating products` and the method of administrative cooperation to the EU-South Korea Free Trade Agreement (OJ L 347, 24.12.2006, p. 1). OJ L 127, 14.5.2011, p. 1,344). The trade agreement contains clear rules for the registration of trademarks in the EU and South Korea. This gives you the opportunity to object to the registration of a trademark. The EU-South Korea trade agreement reduces the differences between the requirements for European and South Korean products by adopting the same international standards. The customs authorities of the exporting country may encourage any exporter who exports products under the trade agreement to file origin declarations for products regardless of their value. The exporter must provide the customs authorities with sufficient guarantees to ensure that the originating status of the products and compliance with all other requirements of the Agreement (Protocol) can be verified. The customs authorities may withdraw the status of the approved exporter in the event of abuse.

In addition, the trade agreement requires that subsidies be transparent. If the EU or South Korea use subsidies, they must report annually the total quantity, nature and supply of subsidies. In the area of electrical safety, South Korea has the option to continue to apply for third-party certification for a limited list of 53 items, if this can justify that they pose a risk to human health and safety. These are set out in Annex 2-B, Appendix 2-B-3, to the Trade Agreement. Describes the bilateral and multilateral trade agreements in which this country participates, including with the United States. Contains websites and other resources for U.S. companies to get more information about how they can use these agreements. .

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