Since the establishment of the FTA Roadmap in 2003, the Republic of Korea (ROK) has actively pursuing FTAs with its key trading partners. So far, FTAs with Chile, Singapore, EFTA, ASEAN, India and Peru, EU and US entered into force. The Korea-U.S. FTA was signed in June 2007 followed by an agreement in December 2010. On March 15, 2012, the KORUS (Korea-U.S.) FTA entered into effect. In particular, on November 28, 2012, the launch Korea-China-Japan FTA and RCEP negotiations were officially announced.
Korea is currently negotiating FTAs with GCC, Australia, New Zealand, Colombia, Canada, Turkey, Mexico and China. Korea and China announced the launch of the Korea-China FTA negotis on May 2, 2010 and the first round of negotiations was held in Beijing on May 14, 2012.
Prior to launching official negotiations, Korea is conducting preparation talks or joint research projects with prospective FTA partners including Japan, MERCOSUR, Israel, Vietnam, Central-America, Malaysia and Indonesia.