Free Trade Agreements Of South Korea

With respect to electrical safety, South Korea has the option of continuing to apply for third-party certification for a shortlist of 53 items if it can justify them pose a risk to human health and safety. These are listed in the trade agreement of Schedule 2-B, Appendix 2-B-3. The trade agreement contains clear rules for trademark registration in the EU and South Korea. This gives you the opportunity to object to the registration of a trademark. Since 2011, the EU-South Korea trade agreement has abolished tariffs on almost all products. In addition, many other barriers to exporting EU products such as automotive, medicines, electronics and chemicals have been removed. Many services between the EU and South Korea have also been opened to investors and businesses. The trade agreement preserves EU rules and rules in the chemical sector and establishes cooperation on regulatory transparency in areas such as. B the customs authorities of the exporting country may authorize any exporter who exports products from the trade agreement to file declarations of origin for the products, regardless of their value. The exporter must provide the customs authorities with sufficient guarantees to verify the original character of the products and compliance with all other requirements of the agreement (protocol). In the event of abuse, customs authorities may withdraw the status of an approved exporter.

For EFTA-Korea trade statistics, see EFTA Trade Statistics Tool The Republic of Korea is a member of the World Trade Organization (WTO) and has signed subsidiary agreements, including the Trade Related Aspects of Intellectual Property and the Government Procurement Agreement. Korea has been a member of the Organisation for Economic Co-operation and Development (OECD) since December 1996. The agreement contains provisions for trade remedies that relate to relevant WTO rules and provides for additional disciplines for these measures, including enhanced notifications and consultations. The agreement establishes a high level of protection of intellectual property rights (Articles 7.1 to 7.3 and Appendix XIII) that covers areas such as patents, trademarks and copyrights and, in some areas, goes beyond what is provided for in the WTO agreement on aspects of intellectual property rights affecting trade (TRIPS) and other international agreements and treaties. It went beyond all previous EU agreements to remove trade barriers and was also the EU`s first trade agreement with an Asian country. They can benefit from a more open South Korean services market under the trade agreement. The EU-South Korea trade agreement offers you better opportunities to apply for South Korean government contracts. In the first five years of the agreement, EU exports to South Korea increased by 55%, European companies saved 2.8 billion euros in tariffs and trade in goods between the EU and South Korea reached a record level of more than 90 billion euros.