Since the establishment of the FTA Roadmap in 2003, Korea has actively engaged in FTA negotiations with over 50 countries. So far, FTAs with Chile, Singapore, EFTA and ASEAN have entered into force. KORUS FTA was signed in April 2007 and currently await approval for ratification. The FTA with India which was recently approved by the Korean National Assembly is expected to enter into force from January 1, 2010. With regard to the Korea and the EU FTA, both parties agreed to work toward signing the Agreement in the first quarter of next year, with a view to putting the Agreement into effect in 2010.

  Korea is currently negotiating FTAs with the GCC, Peru, Australia, New Zealand, Canada and Mexico. Korea will launch FTA negotiations with Colombia in December 2009 following the completion of the joint research on the economic effects of the FTA.

 Prior to launching official negotiations, Korea is conducting preparation talks or joint research projects with prospective FTA partners including Turkey, China, Japan, MERCOSUR, Russia, and Israel. In particular, Korea, China and Japan agreed to start a joint study on the trilateral FTA among government officials, business and academic participants during the annual Trilateral Summit that was held in Beijing this October.