FTA with South Korea Back on Negotiating Table

The South Korean government has proposed to Central American countries that they resume negotiations to sign a free trade agreement.

Monday, April 6, 2015

During a meeting between officials of the Ministry of Foreign Trade of Costa Rica and the deputy minister, Moon Jaedo, of the Ministry of Commerce, Industry and Energy (Motie) of South Korea, it was requested "... that the Central American countries evaluate opening up a process of negotiation for a free trade agreement. "

The Minister of Foreign Trade of Costa Rica, Alexander Mora told Crhoy.com that "... Korea and Central America have agreed to open a process of negotiating a free trade agreement in the coming weeks and will define with the other Ministers in the Area rules and mechanisms for the process. "

This is not the first time that the Asian country has expressed interest in having closer trade ties with the region. In 2011 the South Korean government had conversations with their Central American peers in order to evaluate this possibility.

More on this topic

Guatemala-South Korea FTA: Negotiations Restart

September 2019

Guatemalan authorities announced that in the first week of October they will travel to South Korea, with the aim of restarting negotiations of the Free Trade Agreement between the two economies.

Guatemala is the only Central American country still negotiating the Free Trade Agreement (FTA) with South Korea, since El Salvador, Panama, Honduras, Nicaragua and Costa Rica signed it in February 2018.

FTA with South Korea is Ratified

August 2019

It was announced that the National Assembly of South Korea ratified the Free Trade Agreement signed with Central America.

The announcement was made by Seok-hyun Lee, deputy of the Korean assembly, who reported on the evening of August 2: "... We, the Korean National Assembly last night ratified the FTA with the nations of Central America. I hope you will benefit each other."

Guatemala Negotiates FTA with Korea Bilaterally

November 2016

Bilateral negotiations will continue in order to reach an agreement on an "appropriate balance of commercial interests" for both countries.

From a statement issued by Mineco:

Guatemala, November 16, 2016. Guatemala will continue the process of FTA negotiations with South Korea bilaterally.

Central America and South Korea Analyze FTA

April 2011

Both countries have finalized a feasibility study as part of the analysis of a possible free trade agreement (FTA).

The announcement came from Salvadoran Economy Minister, Héctor Dada Hirezi, who added that by June they hope to have finished analyzing the study results.

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