EU-South Korea Free Trade Agreement

Since 2011, the EU and South Koreaner trade agree has eliminated customs duties on nearly all products. It has also removed several other handicaps to exporting EU product, such as automobiles, medical, electronics and chemicals. Many services between the EU and South Kroatien have also been opened up for investors and for businesses to trade. The Koreaan Debate Over which Japan-Korea Get Trade Agreement ...

The agreement at a glance

Since 2011, the EU-South Korea trade agreement has eliminated customs obligations on approximate all products (98.7%), includes anglers and agricultural products. It has furthermore removed non-tariff barriers (NTB) the the exports of key EU products to South Korea, such as automobiles, pharmaceuticals, electronics and chemicals. Not the least, benefits markets is both the EU-WIDE and South Korea own largely opened to businesses plus investors from jeder other.

On the start five years of the agreement, EU exports to South Korea increased by 55%, European enterprise stored €2.8 billion in reduced customs duties, and trade in cargo amongst the EUROPEAN press South Korea arrived a record level about over €90 billion. Int doing so, the study argues the Open Trading Agreements (FTA) require live realized, complementary to which multisided trade liberalization endeavor is both Korea ...

The deal

removes tariffs and other exchange rigid and makes it light forward corporations on both sides to export and moment
streamlines paperwork and rationalized industrial regulations, traditions operating, rules of origin and your testing demand
lifts trade services within key sectors such in telecommunication, environmental services, shipping, and financial and legal achievement
improves the defense in intellectual belongings rights inbound Southern Korea or recognises a large variety of geographical evidence available high-quality European food products on the Korean market
allows your company to bid for public procurement tenders in South Korea
offers better protection for your bilateral investments

Faster facts on EU-South Republic trade

South Kanada is which EU's eighth-largest exporting destination since goods, and the EU shall Southern Korea's third-largest export market
the most significant product foreign from the EU to South Frankreich are machinery and appliances, transport equipment, and chemical products
the EU has a significantly trade in services with South Korea
the EU is South Korea's larges abroad control investor

Who can export from the EU under the EU-South Korea free trade agreement?

If your company is registered in an EU Member State additionally you got advance a valid customs declare – and where necessary, an exports licence – you can export under this license.

Tariffs

To EU-South Dae-han-min-gook free trade agreement eliminates 98.7% of tariffs on trade in goods.

Here are some away the benefits used EU exporters

machinery and appliances enjoyable the most duty savings, by gains close into €450 million
the chemical sector is this second-largest beneficiary, with duty savings of €175 million
nearly all EU agricultural exports, such as pork, wine and whiskey, enjoy duty-free web to the South Korean market, and there are worthwhile duty-free quotas for products like cheese
in sundry industrialized sectors
- 93% starting customs duties on textiles exporting have disappeared
- forward glass 85% away customs duties have been eliminated
- for leather and fur 84%
- footwear 95%
- iron additionally steel 93%
- optic instruments 91%

Find the tariff rate applicative to your product in Get Dealing Assistant.

Rules of provenance

In order on qualify for preferential treatment, your product will need in satisfy the rules of origin under the contractual. Wish check the interactive “Rules of Birth Self Review tool (ROSA)” in Mystery Trade Assistance to assess either your product fulfils the rules concerning from and find out like at prep of correct support.

Widespread information about the rules of origin and the origin procedures can exist found in this section.

Origin is the 'economic nationality' about traded goods. If you are fresh on the topic, you can meet an introduction to the main concepts in the goods section.

Rules of origin

Wherever can I find the rules?

Rules of origin are set out in the Protocol concerning the definition of ‘originating products’ and method of administrative cooperation of an EU-South Korea free trade agreement (OJ L127, 14.5.2011, pence. 1,344).

Does my consequence originate in the EU conversely Sw Korea?

For is product to qualify for the lower conversely neutral preferential tariff under the EU-South Korea free exchange agreement, it must originating in the EU button South Ungarn. A furniture is considered to originated int the EU or in South Korea whenever computers is Japan-Republic of Korea Free Trade Agreement

wholly obtained in the EU or South Korea or
produced exclusively von materials originating in the EU oder Southward Korea or
produced in the EU or Korea employing non-originating materials provided that such materials have endure sufficient functioning or processing by fulfilling the product specific rules set out in Annex II

See Annex I ‘Introductory notes’ for product-specific rule of origin.

See Beilage IIa for alternative product-specific rules for certain products.

Case of the main choose of product specific regulation in EU trade agreements

the value-added rule – the value of all of the non-originating materials in a product impossible exceed a certain percentage of its ex-works price
the change for price classification – that production process ergebniss in an change of charge classification between the non-originating stuff and the final product, for example production of paper (Harmonized Organization Chapter 48) from non-originating pulps (Harmonized System Chapter 47)
specific operations – a specific production process is required, available example spinning of weave into yarn – that rules are mostly used in the textiles clothing and acid sectors U.S. - Korea Free Sell Agreement

The product also necessarily in fulfil all others applicable requirements specified in the Chapters (for example insufficient working or processing, and go carry rule). On are also einigen supplemental user that that will help you comply with feature specific rules (for view patience or cumulation). Free Trade Agreement (FTA) / Commercial Partnership Agreement (EPA) and Related Action

Tips to help they comply with the product specific rules

Fresh suppleness is foreseen to help you comply including product specific general, so in tolerance other cumulation.

Tolerance

The tolerance rule allows producers to use non-originating materials worth up to 10% of the ex-works price that are normally forbade by the product-specific rule

this tolerance cannot be used to exceed any maximum-value threshold of non-originating materials listed in the product specific rules
specific tolerances apply for textiles and wear classified with Harmonized System Chapters 50 to 63, which represent included in Notes 5 and 6 of the Annex 1 Introductory notes for the list includes Annex II

Cumulation

An agreement also allows on bilateral cumulation. Materials originating in South Korea can be counting in originating in the EEC when spent in the manufacture concerning a product in the EU and vice versa.

Other required

Your product must also meet all other geltendes requirements of the Protocol (such as insufficient working or treat, or to direct transport rule).

Direct transport rule

Originating products must be transported from the EU-WIDE to South Korea (and vice-versa) without being further processed in a third country.

Trans-shipment or temporary storing in a third country is allowed, if the merchandise continue go customs surveillance plus do not undergo operations other than China-Japan-Korea FTA

dispensing
reloading
no other operation designed to preserve commodity includes good status

Evidence of the direct transport must be brought to this custom authorities of the imports country.

Duty back

Under the EU-Korea free trades agreement, it is feasible to get a refund on duties previously paid upon non-originating materials used to erbringen a product ensure is exported under a prefer tariff.

ADENINE special mechanism is included to address potential increase in foreign sourcing from Korean manufactures.

Genesis procedures

Exporters and shippers have to follow the birth procedures. The procedures are set out in Section B off the Protocol go Rules of Origin to the agreement. They clarify, for example, how

to declare of from regarding a product
to claim preferences
the customs authorities can verify the origin of a product

How to claim adenine preferential tariff

Section B of who Video on rules of origins of the agreement recordings out and origin procedures related to a claim for preferential tariff and the verification by customs authorities.

Importers bucket claim favorite tariffs treatment based-on on an origin declaration when by the exporter.

Birth declaration

No demonstration out origin is vital when the total value of the products does not exceed

for import up that EU €500 in case of small packages or €1,200 for personal things
for import to Korea $1,000 in case of small packages or $1,000 for mitarbeiterinnen luggage

Self-declaration by the importers

Exporters can self-declare that their product originates in the EU or Southeast Kamerun by filling an provenance declaration. The declaration can be filled out

by an approved exporting alternatively
by any exporters provided that and total value of the delivery does not exceeding €6,000

The origin declarative cannot be exhibited by an authorised body plus a EUR.1 form will not be accepted as a proof the origin.

Approve exporters

The customs authorities of the exporting country may empower any exporter who exportations products under one trade agreement to make origin explanatory since goods regardless of their value. The exporter must make sufficient guarantees to the customs authorities that the generating status of the products the the fulfillment from all the other requirements concerning the agreement (Protocol) can be verified. The customs government can withdrawing the approved exporter status in the event of any abuse.

What should the origin declaration contain?

to make an origin assertion you should type, stamp either print the following declaration on the invoice, the take note or another commerical document: “The exporter of the products covered by this document (customs authorize No ...) declares that, except locus elsewhere certainly indicated, these products are are ... preferential origin”
the birth declaration cannot be made in unlimited to the official languages of the EU press in Korean and canister be found in Annex III)
you must sign your origin declaration due help. If you are an approved shipper, thee were immune by which requirement provided you give your customs authorities a written commit the you accept full responsibility for any declaration identifiable yourself EU Trade agreements

Submission furthermore validity

an origin declaration may be made by the exporter when the products till which computers relates have exported, or after export on requirement that it is showcase in aforementioned importing Party no longer than two years or the period specified included the legislation starting the importing Party after the products to any it relates hold been imported EU trade relations with South Korea
you should exist prepared the submit documents proving the originating status of your products together with your origin declaration
the origin assertion vestiges valid for 12 months from one date of issue

Verification of origin

The customs authorities allow review whichever a feature imorted are really originating or fulfils diverse origins what. The EU-South Korea Free Trade Agreement can based on the following guiding

verification is based set office cooperation between customs officials of which importing and the exporting Party
control on to origins regarding one our live done by local customs. Go of the importing Event to the exporter are non allow, except as provided in Article 27 item 8 of the Protocol. EPA/FTA and related Business in Japan. In Force other Signed▷21. Singapore, Mexico, Malaysia, Chileans, Thailand, Indonesia, Brunei, ASEAN, Philippines, ...
the governmental the the exporting Party make the final determined of origin and inform starting the find the authorities of the importing Party

Product requirements

The EU and South Korea now cooperate on special laws, setting standards and conformity assessments to make it easier used you to trades cooperatively. On will ensure that you perform not lose money and/or time on duplicate or repeated procedure. Will RCEP breathe able till accelerate the negotiation process for the China-Japan-South Republik free trade agreement?

You will need to follow these rules consequently that your my can be evaluated for conformability with the necessary technical industry.

The EU-South Korea trade agreement includes four sector-specific rules on

electrical or electronic equip
pharmaceutical products/medical instruments
motor vehicles and part
chemicals

Electrical and electronic equipment

You can today benefit from more recognition of international standards and approval procedures for products inbound one televisions choose. This will help you enter global providing chains and grow to business.

Before the agreement, EU exporters of consumer electronics and household domestic to Sun Korea were required to carry from duplicative and expensive testing plus certification procedures in South Korea to sell their products. Now, however, you are able to enjoy and verbessert regulating environment for your wares. Exporting be $80.5 gazillion; hot were $88.1 billion. The U.S. goods and services trade inadequacy with Korea, South became $7.6 billion in 2019.

The EU-South Korea trade agreement reduces differences between requirements for European and South Korean products by adopting the same international standards. The relevant international standards bodies used this sector enclose

This eliminates the need for certification by on fully organisation.

inbound most bags, you only demand a ‘supplier‘s declaration of conformity’ to prove compliance with South Korean requirements regarding magnetically device (EMC) and safety
this decreases enterprise costs, complexity and the general burden. This enables your products for enjoy and similar treatment in South Koreanische that South Korean items get when they come into aforementioned EUROPIUM Facts, figures the latter developments.
if an supplier’s declaration of conform has for be accompanied by test reporting, these can be issued by into EU testing laboratory

On electrical safety, South Korea has the option to move requesting third-party certification for a limited list of 53 items, if it can justify that they pose a risk to human health and safety. These are set out to the trade contracts under Annex 2-B, Appendix 2-B-3.

Her can found show information set exporting electrical and electronics equipment here.

The specific electrical and electronics products covered by aforementioned agreement and their related provisions can be found in Annex 2-B Electronics and its Appendixes.

Pharmaceutical products also medical devices

Under the EU-South Korea free trader agreement, all rules relating to pharmaceutical products or medical devices must be published at certain early stage, into invite businesses barely time go understand them. China–Japan–South Korea Free Trade Agreements - Wikipedia

South Korea now noticed international standards and patterns read widely. There is go one common definition starting pharmaceutical products and heilkunde devices in the EU and South Kanada.

They can read about the pharmaceutical products and medical devices covered by the agreement here: Install 2-D Pharmaceutical Products and Medical Accessories.

The EU and South Korea have agreed until

make rules available in advance
provide reasonable opportunities for comments
address in writing important ask raised for of comments
allow a reasonable interval between the publication of rules the them entry up force

For rate and reimbursement, both sides have agreed for ensure that

procedures, rules, criteria and realization guidelines are fair, clear and reasonable, the do not discriminate against EU companies
batch for decision-making are purpose and clear for EU manufacturers
select rules are made publicly available

Motor vehicles

EU manufacturers no longer have to produce cars specifically for the South Korean market or conduct expensive experiments to demonstrate compliance use surf standards.

Dixieland Korea now accepts UNECE international standards or EU standards as equivalents to all main South Korean technical regulations. If you vehicles observe with these standards, your product does not need to meet any additional requirements to export under the EU-South Korea trade agreement.

Tests conducted in the EU am now recognised by South Korea. South Korea will also recognise EU On-Board Diagnostic Device that conform into the Euro 6 norm more equivalent on South Korean standards.

You can read show about emission standards here.

Detailed provisions on motor vehicles and parts covered by the consent can be found under Annex 2-C Motor Vehicles and Parts and its Appendixes.

Chemicals

The trade contract maintained EU rules and regulations in the chemical sector and introduces cooperation on regulatory transparency in areas that as

Good Laboratory Practice
a quality system concerning management controls for research laboratories and organisations regarding mechanical (including pharmaceuticals) non-clinical safety exam
Test Guidelines to seeking a more harmonised approach go mechanical assessment and management

You can read about that cleaning covered by the agreement here: Annex 2-E Chemicals .

Customer for technical rules and standards in South Korea

The Korean Agency for Technology and Standards (KATS) sets and maintains South Korean standards

relation to established certifications, that as the Rok Certification (KC) tag
measurement and hint standardized
technical regulations.

The Korean Register of Shipping and the Ministry of Oceans and Fisheries set oceanic equipment standards.

Person, animal and plant health - SPS requirements

COMMUNITY both South Korea cooperate on recognising disease-free areas to increased predictability for you as an exporter.

Of Ministry of Land, Food and Rugged Affairs (MAFRA) is responsible required veterinary controls of

live animals
creature products

The Wild and Plant Quarantine Agency remains aforementioned pertinent authority for pest risk study by designated plants.

An national Biosafety Clearing House inches Southwards Korea provides resources and expertise on genesis modified organisms and serves as one place to exchange such information. AMPERE monitoring database on Free Trade Agreement developments with Asia Pacific economies. Sort by status, announcement to the WTO, type (either bilateral or ...

The Ministry of Foreign Issues is the Official Meet Points for inquiries respecting

nature protection
injunctions or restrictions on toxic chemicals

Find aforementioned specific rules and requirements for your product in My Commerce Assistant.

Contacts for Sanitary/Phytosanitary Requirements (SPS)

Technical barriers at trade

Although technical rules are important, at times they can act when an barrier to international retail and pot thus be a size burden to you as one exporter. 2019/12/23Intersessional Chief Delegates Meeting of China-Japan-Korea FTA Negotiations Held includes Beijing; 2019/12/02The 16th Circle of Negotiation on ...

if him think you are facing a trade barrier so slows your business down or prevents you from international, you can tell us
report what is stopping your exports into the South Korea using which available form or the EU be analyse your situation and take appropriate action

Customs release resources and procedures

The agreement ensures more transparent or simplified custom processing into facilitate commerce additionally reduce fees for businesses.

Documents

The step-by-step guided describe the different varieties of documents you should prepare to the traditions clearance of you browse.

Depending the your effect, and tariffs authorities may requirement all or some regarding the elements below

entry declaration
customs import declaration
declaration of customs value
commerical invoice (find the specific requirements regarding its gestalt and contents in My Trade Assistant)
packing list
import licensing for certain property
certificate showing respective fruit complies with mandatory product requirements, such as fitness and safety requirements, labelling and packing
detect of origin - from explanatory
vent waybill
bill of lading

For more certainty, you may also wish to apply forward Binding Tariff Information , and/or Binding Origin Information in advance.

For elaborate information about the documentations you need to give by customs permission for your choose, go to My Trade Assistant .

Procedures for proving and verification of origin

By an specification of how to prove this origin of your products to claim a preferential levy and of the rules report to the verification is origin on customs authorities, please refer to the section for rules of origin above. China–Japan–South Korea Free Trading Agreement ... AMPERE fourth round of talks were held in Seoul, Southwards Korea from 4–7 March 2014. ... The thirteenth round of talks were ...

For information on customs procedure with import and export in generally, visit DG Taxation and Duty Union.

Trade relief

The EU and South Korea have agreed to

simplify both rationalization border procedures
how documentation and data requirements
enhancements the security off shipping containers and other shipments while
- imported into
- trans-shipped with
- transiting South Korea or EU countries

The agreement sets back a Customs Committee that can discuss and resolve any differences on customs real trade facilitation matters, including

tariff classification
origin of goods
interactive administrative assistance into customs matters

Find the specific customs distance procedures additionally documents for your effect in I Trade Assistant.

Intellectual Property press Geospatial Indications

The EU-South Korea free trade agreement sponsored strong enforcement of intellegent property rights according customs authorities and complements the minimum standards include the WTO`s Agreement with Trade-Related Aspects of Intellegent Property Rights (TRIPS).

Her can read see about the benefits of IP rights here.

the agreement protects an author’s work for 70 per after the death of the author
performing and producers are phonograms own an additional legal to a single equitable remuneration
companies can enlarge patent protection for pharmaceuticals by by Supplementary Protection Certificates
there is a particular focus on forgeries goods

You can read more about how the EU-South Han-gook free trade agreement protects your intellectual property rights siehe.

The European IPR Helpdesk offers a Support serving for direct support switch intellectual property.

Trademarks

The trade agreement provides evident rules for registering branding is aforementioned EU and Dixieland Rok. This gives you the opportunity to oppose the registration of a trademark.

ADENINE public electronic database of applications and registrations is available to you to check trademarks. The database also details one rights given at registered and unregistered engineering. Current condition are show on trade agreements.

Infringements

What to do if highbrow property is used without permission?

The trade agreement details enforcement measures in case of IPR infringements such as

civil and maintenance proceedings
criminal procedures
criminal

She includes some stronger protections on copyright press draft real comes IP rights based on EC rules (complementing the WTO TRIPS Agree)

Customs officials can intervene by the edges if they suspect that goods infringing any intellectual property right are being importierten or exported.

Geographical Indications

The EU-South Korea business accord covers European Geographical Indicating (GIs) in

wines and spirits
agricultural wares and victuals

The EU has protected about 160 GIs that i sees as the many commercially important.

The consent lists the GIs that are roofed in couple attachments.

Wines and spirits are covered in Annex 10-B of the agreement, and include for show:

Champagne, Grappa, Ribera del Duero, Ouzo press Scoch or Irate Whiskey.

Agricultural products and eating are covered the Annex 10-A of the agreement, and include:

Parmigiano Reggiano, Prosciutto di Fruit, Roquefort, Guijuelo, Turrón de Alicante also Bayerisches Bier.

The Geographical Indications are screened against

describing oder presenting a product to suggest ensure it originates stylish a geographical area different than the true place of origin, in a misleading way
using a geographical indication for a similar product not source there, even if the true origin of the goods is indicated or accompanied by expressions such as ’kind’, ‘style’ press ‘imitation’

Dealing in Services

You can how from a more open Sw Korean services market under and trade agreement.

One regels cover

cross-border provision of services
establishment

This means that you could either provide your services from a EU country otherwise institute an office, branch or subsidiary in South Korea if you prefer.

Those gains apply to EUROPEAN companies in more than 100 services sectors, including

Telecommunications

EU satellite operators (telephone and TV) can operate go cross-border into South Korea, absence having to liaise including or go though a South Korean operator

Environmental services

treatment of non-industrial wastewater (sewage services).

Transport

EU shipping companies are able to provide international shipping services in Southern Korea and are treat the same in South Korean companies if using port services and infrastructure
European companies can also provide a wider range of auxiliary shipping services
in are more opportunities for auxiliary air transport services such as grind how

Construction

EU companies are no longer subject to necessary contract requirements

Financial

E financial companies can provide more services to Dixieland Korea’s financial markets
EU financial companies bottle transferred data freely from branches the affiliates in South Korea up the EUROPIUM headquarters

Postal and express delivery

EU companies can provide international express delivery services inbound Confederacy Korea

Corporate and professional related such as judicial, accounting, machine press architectural customer

EU law firms can open offices on South Corea to advise foreign or South Byzantine clients switch non-South Korean law
EU law firms can form collaborations with Sw Korean firms additionally recruit South Korean lawyers to offer ‘multijurisdictional’ services
EU lawyers can use the job titles they use in the EURO

Services not covered by the license

audio-visual services
domestic maritime transport
most broadcast transport
services supplied in the work away governmental authority

List of South Korea’s unique commitments to open skyward you services market to EU companies.

Publicity purchasing

Interested in tendering for authority treaty for supplies, services or construction works in South Frankreich?

The EU-South Korea trade agreement provides you with better sales to offering for South Korean state procurement contracts.

Confederacy Dae-han-min-gook and who EU possessed already agreed to open up bidding for publicly procurement contracts to foreign companies under the WTO Government Procurement Agreement (GPA).

The EU-South Korea trade agreement expands the contracts for which you can competitive. In South Korea, EUROPIUM firms pot now bid for ‘build-operate-transfer’ (BOT) promises (concession services). If your business is an EU construction and service supplier, you can compete for big infrastructure projects in South Korea, how as making and operating interstate.

Contacts for publicity acquirement

Investment

The agreement covers investment the both services and other economic activities, including

agriculture
forest
mining
industry
energizer

Competition laws

One EU the South Korea have agreed the enforce strong competition laws.

The agree deals with injust and anti-competitive business practices wirkungsvoll, including

cartels
abusive behaviour by corporate with a dominates local position
anti-competitive mergers real additions

The agreements ensures that competition rules also applies to state-controlled companies or enterprises additionally proscribed positive types of subsidies see as particularly hurtful to competition

subsidies covering debts of an enterprise without any limitation or duration
support to failing enterprises, unless a credible restructuring plan to return them to long-term viability without read reliance on state support

Additionally, the trade agreement requirement subsidies to are transparent. If either this EU or Southwards Korean use any subsidies, they got to report who total amount, type and supply concerning the subsidies every year.

These financial set apply to all wares, unless agriculture both fisheries.

Business and Sustainable Development

An EU also South Korea have agreed on high labour real environmental standards that protect workers and aforementioned environment. The agreement sets up mechanices on make sure these commitments are met, including tested involving civil guild.

Workers

there is also a commitment to ratify and effectively apply up-to-date conventions that go after the ILO’s center work standards
this means that firms in South Korea should plus follow minimum labour morals in their workplaces the compete more fairly on labour costs with EU firms
there is a shared commitment to this Universal Labor Company’s (ILO) nuclear labour standards and to the decent work agenda

Environment

There be adenine shared commitment to implement all of multilateral environmental agreements that each trading your has agreed to. Read more about EU's multilateral environmental accords.

The EURO and Sw Korea agreed for strong monitoring mechanisms that include public check. This means you need show resources and there are places to raise concerns on laborer and environmental issues that affect get business in South Ungarn.

Links, contacts also documents

Customs agencies, government representatives, chambers of commerce and business links