The EU and South Korea are working together to recognise disease-free zones to increase predictability for you as an exporter. In 2016, the European Commission published the mandate to assess the impact of the implementation of the FTA. The experience gained in the implementation of this free trade agreement can in the future serve as a basis for improving the design of similar agreements negotiated with other countries. Wines and spirits fall under Annex 10-B to the Agreement and include, for example: Decision 2011/265/EU – Signature and provisional application of the Free Trade Agreement between the EU and EU countries, of the one part, and South Korea, of the other part, More on the practical application of the Agreement. The EU and South Korea are now working together on technical regulations, establishing standards and conformity assessments to facilitate international trade. This ensures that you don`t waste money and/or time on duplicate or multiple procedures. The agreement removes tariffs on 98% of import duties and trade barriers for industrial products, agricultural products and services over a five-year period. [13] It contains a guarantee that South Korea`s car emissions regulation will not be detrimental to European car manufacturers and includes a clause to protect European car manufacturers. [14] [15] [16] In the first five years of the agreement, EU exports to South Korea increased by 55%, European companies saved €2.8 billion in reduced tariffs and trade in goods between the EU and South Korea reached record levels of more than €90 billion.

The agreement lists the geographical indications covered by two annexes. The free trade agreement also addresses non-tariff barriers to trade, particularly in the automotive, pharmaceutical, medical device and electronics sectors. Italian carmakers and some French believe the deal would hurt them considerably by allowing South Korean automakers to compete with them in the EU. Adolfo Urso, an Italian foreign trade minister, said the Italian government could veto the deal, which it initially did in September 2010, due to concerns from European automakers. Business analysts such as ECIPE`s Hosuk Lee-Makiyama have dismissed car industry lobbying as “myths”: while EU exports to Korea are expected to increase by 400%, most Asian car brands manufacture their cars in the EU and Korean cars account for an insignificant share of imports into the EU to threaten even Europe`s most inefficient car manufacturers. [11] Italy dropped its objections because the provisional application of the agreement was postponed from 1 January 2011 to 1 July 2011. [12] This is the third trade agreement that South Korea and the European Union have signed between them. The first, the Agreement on Customs Cooperation and Mutual Administrative Assistance, was signed on 13 May 1997.

[5] This agreement allows the sharing of competition policy between the two parties. [6] The second agreement, the Framework Agreement on Trade and Cooperation, was concluded on 1 August. April 2001. The framework aims to strengthen cooperation in various sectors, including transport, energy, science and technology, industry, environment and culture. [6] [7] 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 international standardization bodies competent for this sector include the international standardization bodies competent for electrical safety, South Korea has the possibility to continue to require third-party certification for a limited list of 53 items if it can justify presenting a risk to human health and safety. These are defined in the trade agreement referred to in Annex 2-B, Appendix 2-B-3. The trade agreement contains detailed enforcement measures in the event of infringement of intellectual property rights, such as.B. In 2010, the EU and South Korea strengthened their wider relations into a strategic partnership. On 10 May 2010, the two parties signed a framework agreement, which entered into force on 1 June 2014.

It forms the basis for enhanced cooperation on important political and global issues such as human rights, the non-proliferation of weapons of mass destruction, the fight against terrorism, climate change and energy security. It is a comprehensive political cooperation agreement with a legal link to the EU-South Korea Free Trade Agreement. The agreement was the most comprehensive the EU has ever negotiated: import duties on all products were almost abolished and trade in services was heavily liberalised. It contains provisions on intellectual property (including geographical indications), public procurement, competition, regulatory transparency and sustainable development. There are also specific commitments against non-tariff barriers in sectors such as automotive, pharmaceuticals and electronics. [4] Negotiations began in May 2007[6] and are expected to conclude in March 2009. However, several issues had to be clarified before the agreement could be concluded. [10] Seven rounds of negotiations on different aspects of the agreements have been concluded[10], addressing issues related to various issues, including rules of origin, issues relating to motor trade and the granting of certain tariff reductions. [9] You can find out more about the chemicals covered by the Convention here: Annex 2-E Chemicals.

Trade between the two sides amounted to €64 billion in 2007. The EU is the second largest importer of South Korean products. South Korea is the eighth largest importer of goods from the EU. [6] The agreement is commonly referred to as the first of the new generation free trade agreements signed by the EU to address trade concerns beyond tariffs. These main concerns include non-tariff barriers (NON-TARIFF BARRIERS); they are significant barriers to trade both in Korea and at EU level. In fact, non-tariff barriers are estimated to have the same level of protection as a tariff, with 76% in Korea and 46% in the EU. [8] According to some studies, an agreement can increase trade by up to 40% in the long term. [9] According to the EU-South Korea Free Trade Agreement, all rules on medicines and medical devices must be published in advance so that companies have sufficient time to understand them.

Since 2011, the EU-South Korea trade agreement has eliminated tariffs on almost all products. It has also removed many other barriers to the export of EU products such as automobiles, pharmaceuticals, electronics and chemicals. Many services between the EU and South Korea have also been opened to investors and businesses for trade. In 2014, the agreement was amended to take into account Croatia`s accession to the EU in July 2013. Croatia now enjoys the same conditions as other EU countries. This Chapter sets out the obligations of the Parties with regard to intellectual property rights, in particular trademarks, copyrights, designs and geographical indications. These complement and update the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement). The chapter also includes a section on the enforcement of intellectual property rights on the basis of the EU`s internal rules contained in the Enforcement Directive. The EU-South Korea trade agreement sets out four sectoral rules for the agreement Establishes a customs committee that can discuss and resolve any differences on tariff and trade facilitation issues, including a more open South Korean services market under the trade agreement.

The customs authorities of the exporting country may allow any exporter exporting products under the trade agreement to make origin declarations for the products, regardless of their value. The exporter must provide the customs authorities with sufficient guarantees that the originating status of the products and compliance with all the other conditions of the Agreement (Protocol) can be verified. The customs authorities may withdraw the status of approved exporter in the event of abuse. The EU-South Korea trade agreement protects European Geographical Indications (GIs) for a public electronic database of applications and registrations available to you to verify trademarks. The database also contains rights to registered and unregistered designs. The EU-South Korea Free Trade Agreement had been in place provisionally since July 2011 before being formally ratified in December 2015. 1 July 2019 marked the eighth anniversary of the EU-South Korea Free Trade Agreement. The agreement gradually and gradually eliminates tariffs on industrial and agricultural products.

The specific electrical and electronic products covered by the Agreement and related provisions are set out in Annex 2-B Elektronik and its Annexes. The EU-South Korea Free Trade Agreement promotes rigorous 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). The EU-South Korea trade agreement expands the treaties you can compete for. In South Korea, EU companies can now bid on build-operate-transfer (BOT) (concession services) contracts. If your company is a service and construction provider in the EU, you can apply for large infrastructure projects in South Korea, such as. B, the construction and operation of motorways. The trade agreement preserves EU rules and regulations in the chemical sector and establishes cooperation on regulatory transparency in areas such as the trade agreement, which provides 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 agreement established a number of technical committees and working groups between the two sides to monitor implementation. The text of the agreement was initialled on 15 October 2009 between South Korea and the EU. [19] It was signed at the EU-Korea Summit held in Brussels on 6 October 2010.

[16] [19] The European Parliament ratified the agreement on 17 February 2011. [16] The South Korean legislature ratified it on May 4, 2011. [20] [21] The agreement ensures that competition rules also apply to state-controlled undertakings or undertakings and prohibits certain types of subsidies considered to be particularly harmful to competition. The agreement effectively addresses unfair and anti-competitive trade practices, including South Korea, which now accepts international UNECE standards or EU standards as equivalent to all major South Korean technical regulations. .