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EFTA-KOREA
EFTA-Korea FTA&EIA
Interactive trade indicators
Technical notes for performance indicators
Performance Indicators :
Select indicator...
Export Propensity
Export Shares
Export-import coverage
Import Dependence
Import Shares
Normalized Trade Balance
Trade Dependence
Trade Shares
Member Countries
EFTA
Korea, Rep.of
Free Trade Agreement between the EFTA States and the Republic of Korea
Status :
Signed in
2005
.
In force since 2006
Scope :
Country - Bloc
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2006
Agreement text :
http://www.efta.int/free-trade/free-trade-agreements/korea.aspx
Other links :
http://www.efta.int/~/media/Documents/legal-texts/free-trade-relations/republic-of-korea/EFTA-%20Republic%20of%20Korea%20Free%20Trade%20Agreement.pdf
WTO consideration process :
http://docsonline.wto.org/imrd/directdoc.asp?DDFDocuments/t/WT/REG/217-2.doc
GOODS
Tariffs
Positive list- products in categories 25-97 of the HS, excluding those in Annex III and including those processed agricultural products as provided in Annex IV and fish and marine products as provided in Annex V
There are separate invidiual agreements for agricultural products between Rep. of Korea and Each EFTA State
Rules of Origin
Sufficient working and processing- Appendix 2
product group specific
Contingency Measures
Anti - Dumping :
Article 2.10 - parties maintain right to use AD but plan to review this in five years
Countervailing Duties :
Article 2.9 - 30 day notification
Safeguards :
Article 2.11 (bilateral safeguards) and Article 2.12 (balance of payments difficulties)
Standards :
Article 2.7 (SPS) and ARticle 2.8 (Technical regulations)
Notes:
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification 23/08/2006
Consideration Process : Factual Presentation issued
Liberalization Approach
:
Positive Lists
Modes Covered
Cross-border supply (Mode1)
Consumption abroad (Mode2)
Commercial presence (Mode3)
Presence of natural persons (Mode4)
Specific Chapters on
Financial services
Specific Sectors Excluded
Air transport
Public Sectors carve-out
:
GATS-like (Article I:3(b))
Most Favoured Nation
:
Binding
National Treatment
:
Binding
Market Access
:
Binding
Domestic Regulation
:
Binding but subject to legitimate expectations (GATS-like)
Subsidies covered by services disciplines
:
Covered
Denial of benefits for commercial presence
:
n.a
Notes
:
1.The rights and obligations of the Parties in respect of the movement of natural persons of a Party supplying services shall be governed by the GATS Annex on Movement of Natural Persons Supplying Services, which is hereby incorporated into and made part of this Chapter.(See Article 3.10) 2.GATS Article VI(Domestic Regulation), XVI(Market Access),XVII(National Treatment)are incorporated into this Chapter.
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Covers portfolio investment
Most Favoured Nation
:
Binding
Economic integration exception to MFN
National Treatment
:
Binding
NT provision applies to entry and establishment rights
Fair and Equitable Treatment
:
Not Featured
Expropriation
:
Binding
Board of Directors and executive personnel
:
Not Featured
Invester - State arbitration
:
Denial of Benefits
:
n.a
Additional BIT exists between the parties
:
BIT list I :
Status: Superseded by PTA
BIT list II :
Status: Superseded by PTA
Notes
:
BIT does not cover Norway.
Link to schedules
:
TRADE FACILITATION
Customs procedures :
No
Customs valuation :
No
Trade regulations publication and administration (transparency) :
Yes
Article 67 of the Agreement
E-Commerce / Paperless trade :
No
Cooperation in trade facilitation :
No
OTHER AREAS
Government Procurement :
Yes
Chapter 6: Articles 6.1 to 6.3, Annex XII
Investment :
Yes
Agreements on investment separately concluded between Rep. of Korea, on one hand, and Iceland, Liechtenstein and Switzerland, on the other. See http://secretariat.efta.int/Web/ExternalRelations/PartnerCountries/Korea/KR/KR%20Inv%20Agr/KR_Inv_Ag.pdf
Competition Policy :
Yes
Chapter 5; Article 5.1 covers co-operation, notification, consultation between the parties
Intellectual Property :
Yes
Chapter 7: Articles 7.1 and 7.2, Annex XIII- covering areas such as patents, trademarks and copyright and using high standards for the protection; Article 7.3 on cooperation
Dispute Settlement :
Yes
Chapter 9: Articles 9.1 to 9.11 - consultations and binding arbitration. Parties cannot block panels.
Labor Mobility :
No
Labor and Environmental Standards :
No
Technical cooperation :
No
Institutional mechanism :
No
Notes:
Chapter 10 covers transparency
RULES OF ORIGIN
Cumulation
diagonal provided that materials have undegone sufficient working or processing (Article 6 sets criteria for insufficient processing)
Specific Process
see details in Articles 5 and 6 of the Annex I - Rules of Origin
Heading Change
na
De Minimis
Minimum Content
product group specific
Drawback
Http Link
http://secretariat.efta.int/Web/ExternalRelations/PartnerCountries/KR/KR_RUAP/annexes/KR_Annex_I.pdf
Notes
Articles 30 and 31 cover customs cooperation
EFTA-KOREA
EFTA-Korea FTA&EIA
Member Countries
EFTA
Korea, Rep.of
Total: 2 countries
Free Trade Agreement between the EFTA States and the Republic of Korea
Status :
Signed in
2005
.
In force since
2006
Scope :
Country - Bloc
Type :
FTA & EIA
WTO Notification :
GATT Art XXIV, GATS Art V
2006
Agreement text :
http://www.efta.int/free-trade/free-trade-agreements/korea.aspx
Other links :
http://www.efta.int/~/media/Documents/legal-texts/free-trade-relations/republic-of-korea/EFTA-%20Republic%20of%20Korea%20Free%20Trade%20Agreement.pdf
WTO consideration process :
http://docsonline.wto.org/imrd/directdoc.asp?DDFDocuments/t/WT/REG/217-2.doc
GOODS
Tariffs
Positive list- products in categories 25-97 of the HS, excluding those in Annex III and including those processed agricultural products as provided in Annex IV and fish and marine products as provided in Annex V
There are separate invidiual agreements for agricultural products between Rep. of Korea and Each EFTA State
Rules of Origin
Sufficient working and processing- Appendix 2
product group specific
Contingency Measures
Anti - Dumping :
Article 2.10 - parties maintain right to use AD but plan to review this in five years
Countervailing Duties :
Article 2.9 - 30 day notification
Safeguards :
Article 2.11 (bilateral safeguards) and Article 2.12 (balance of payments difficulties)
Standards :
Article 2.7 (SPS) and ARticle 2.8 (Technical regulations)
Notes:
SERVICES
WTO Notification (GATS Art. V)
:
Notified
Date of notification : 23/08/2006
Consideration Process : Factual Presentation issued
Liberalization Approach
:
Positive Lists
Modes Covered
Cross - Border Supply :
Yes
Consumption Abroad :
Yes
Commercial Presence Abroad :
Yes
Movement of Natural Persons :
Yes
Specific Chapters on
Financial services :
Yes
Specific Sectors Excluded
Air transport :
Yes
Public Sectors carve-out
:
GATS-like (Article I:3(b))
Most Favoured Nation
:
Binding
National Treatment
:
Binding
Market Access
:
Binding
Domestic Regulation
:
Binding but subject to legitimate expectations (GATS-like)
Subsidies covered by services disciplines
:
Covered
Denial of benefits for commercial presence
:
n.a
Notes:
1.The rights and obligations of the Parties in respect of the movement of natural persons of a Party supplying services shall be governed by the GATS Annex on Movement of Natural Persons Supplying Services, which is hereby incorporated into and made part of this Chapter.(See Article 3.10) 2.GATS Article VI(Domestic Regulation), XVI(Market Access),XVII(National Treatment)are incorporated into this Chapter.
Link to schedules
:
INVESTMENT
Scheduling Approach
:
Negative Lists
Definition of investment
:
Covers portfolio investment
Most Favoured Nation
:
Binding
Economic integration exception to MFN :
Yes
National Treatment
:
Binding
NT provision applies to entry and establishment rights :
Yes
Fair and Equitable Treatment
:
Not Featured
Expropriation
:
Binding
Board of Directors and executive personnel
:
Not Featured
Invester - State arbitration
:
Yes
Denial of Benefits
:
n.a
Additional BIT exists between the parties
:
Yes
BIT list I :
Status: Superseded by PTA
BIT list II :
Status: Superseded by PTA
Notes
:
BIT does not cover Norway.
Link to schedules
:
TRADE FACILITATION
Customs procedures :
No
Customs valuation :
No
Trade regulations publication and administration :
Yes
Article 67 of the Agreement
Use of ICT :
No
Mobility of business people :
No
Freedom of transit :
No
Transport and logistics :
Yes
Article 14 of the Agreement
Trade finance :
No
OTHER AREAS
Government Procurement :
Yes
Chapter 6: Articles 6.1 to 6.3, Annex XII
Investment :
Yes
Agreements on investment separately concluded between Rep. of Korea, on one hand, and Iceland, Liechtenstein and Switzerland, on the other. See http://secretariat.efta.int/Web/ExternalRelations/PartnerCountries/Korea/KR/KR%20Inv%20Agr/KR_Inv_Ag.pdf
Competition Policy :
Yes
Chapter 5; Article 5.1 covers co-operation, notification, consultation between the parties
Intellectual Property :
Yes
Chapter 7: Articles 7.1 and 7.2, Annex XIII- covering areas such as patents, trademarks and copyright and using high standards for the protection; Article 7.3 on cooperation
Dispute Settlement :
Yes
Chapter 9: Articles 9.1 to 9.11 - consultations and binding arbitration. Parties cannot block panels.
Labor Mobility :
No
Labor and Environmental Standards :
No
Technical cooperation :
No
Institutional mechanism :
No
Notes:
Chapter 10 covers transparency
RULES OF ORIGIN
Cumulation
diagonal provided that materials have undegone sufficient working or processing (Article 6 sets criteria for insufficient processing)
Specific Process
see details in Articles 5 and 6 of the Annex I - Rules of Origin
Heading Change
na
De Minimis
Minimum Content
product group specific
Drawback
Http Link
http://secretariat.efta.int/Web/ExternalRelations/PartnerCountries/KR/KR_RUAP/annexes/KR_Annex_I.pdf
Notes
Articles 30 and 31 cover customs cooperation
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