• Policy

        • Korea

        • 2014

        Korea Energy Master Plan: Outlook and Policies to 2035 (Second Energy Master Plan)

        Launched in 2014, the Second Energy Master Plan is an overarching plan that covers all energy sectors and coordinates energy-related plans from a macro perspective.  The Plan lays out six strategic targets to be addressed: Trends and prospects of domestic and overseas demand and supply of energy;Measures for stable imports, supply, and management of energy;Targets for demand and energy mix and the improvement of efficiency in the use of energy;Supply and use of energy with good sustainability performance;Measures for the safety and control of energy;Technological development in the energy industry.Regarding critical minerals, the…

        • Policy

        • Korea

        • 2014

        Korea - Australia Free Trade Agreement

        The Korea - Australia Free Trade Agreement aims to foster economic relations between the two signatory nations through the elimination of tariffs and customs duties on the trade of goods and services in accordance with the agreement.The Agreement covers, among others, the elimination of tariffs for the following goods:Electric generation equipment Mechanical equipment including pumps, appliances, and other advanced machineryElectric motors, transformers, batteries, and capacitorsMotor vehiclesMineral ore and processed products including graphite, manganese, copper, aluminum, and nickelVarious products manufactured using above minerals and metals such as sheets, powders, bars, and platesPhotovoltaic cellsThe Agreement also includes rules of origin and local…

        • Policy

        • Korea

        • 2015

        Korea - European Union Free Trade Agreement

        The Free Trade Agreement between Korea and the European Union entered into force in 2015.The Agreement notably provides for the elimination of border tariffs for the following energy sector goods:Electric generation equipment Mechanical equipment including pumps, appliances, and other advanced machineryElectric motors, transformers, batteries, and capacitorsMotor vehiclesMineral ore and processed products including graphite, manganese, copper, aluminum, and nickelVarious products manufactured using above minerals and metals such as sheets, powders, bars, and platesPhotovoltaic cellsThe Agreement also includes rules of origin. Goods may benefit from preferential tariff treatment if:wholly produced or obtained in one of the signatory countries (applicable to…

        • Policy

        • Korea

        • 2011

        Korea - Peru Free Trade Agreement

        The Korea - Peru Free Trade Agreement notably provides for the elimination of import tariffs for the following goods:Electric generation equipment Mechanical equipment including pumps, appliances, and other advanced machineryElectric motors, transformers, batteries, and capacitorsMotor vehiclesMineral ore and processed products including graphite, manganese, copper, aluminium, and nickelVarious products manufactured using above minerals and metals such as sheets, powders, bars, and platesPhotovoltaic cellsThe Agreement also includes rules of origin. Goods may benefit from preferential tariff treatment if wholly produced or obtained on the territory of one of the Parties, or having undergone a significant production process there, or meeting product-specific regional…

        • Policy

        • Korea

        • 2022

        Korea - Cambodia Free Trade Agreement

        The Korea - Cambodia Free Trade Agreement provides for the reduction or elimination of import tariffs, including for Automobile componentsAutomobile Internal Combustion EnginesHeavy Duty Commercial VehiclesSteel and other non-alloy beamsThe Agreement includes rules of origin, by which goods may benefit from preferential tariff treatment if:wholly produced or obtained in one of the signatory countries (applicable to minerals, raw materials, and waste and scrap materials) orhaving undergone manufacturing processes that warrant a change in the HS code  (applicable to manufactured goods) or meeting  regional value content requirements (applicable to manufactured goods)

        • Policy

        • Philippines

        • 2023

        Korea - Philippines Free Trade Agreement

        The Korea - Philippines Free Trade Agreement builds on the Korea - ASEAN Free Trade Agreement (the Philippines is a member state of the ASEAN) to further reduce or eliminate customs duties. The agreement was signed in 2023 and is expected to come in effect during the first half of 2024. The agreement needs to be ratified by the Korean National Assembly and the Filipino Senate in order to come into effect.Items whose tariffs are additionally lowered or removed as a result of this Agreement include:Imported into the PhilippinesCommercial VehiclesPassenger VehiclesCopper wireAutomobile componentsImported into KoreaCommercial vehiclesPassenger vehiclesThe Agreement also includes…

        • Policy

        • Korea

        • 2023

        Korea - Ecuador Strategic Economic Cooperation Agreement

        The Korea - Ecuador Strategic Economic Cooperation Agreement (SECA) is intended to establish a free trade area between the two countries by eliminating or reducing tariff barriers per the provisions of the agreement. The agreement has NOT been officially signed yet and is NOT yet in effect. Trade representatives from the two countries have signed a provisional agreement announcing the conclusion of negotiations.For promulgation, the agreement has to be first officially signed by representatives of the two governments; and then ratified by the Korean and Ecuadorian National AssembliesThe Agreement covers, among others, the elimination of tariffs for the following goods…

        • Policy

        • Korea

        • 2007

        Korea - ASEAN Free Trade Agreement

        The Korea - ASEAN (Association of South East Asian Nations) Free Trade Agreement aims to foster trade relations between Korea and the ASEAN member nations by reducing or eliminating tariffs on goods. The following countries have signed bilateral free trade agreements with Korea:Viet NamCambodiaSingaporeIndonesiathe Philippines (not yet in force)For countries that have not signed further bilateral FTAs with Korea, the Agreement covers, among others, the elimination of tariffs for the following goods:Electric generation equipment Mechanical equipment including pumps, appliances, and other advanced machineryElectric motors, transformers, batteries, and capacitorsMotor vehicles (for import into Brunei and Korea)Mineral ore and processed…

        • Policy

        • Korea

        • 2015

        Korea - Viet Nam Free Trade Agreement

        The Free Trade Agreement between Korea and Viet Nam FTA provides for the elimination or reduction of border tariffs, notably for the following imports from Korea:AppliancesAutomobile componentsAutomobile Internal Combustion EnginesHeavy Duty Commercial VehiclesPumpsSteel bars and other steel itemsWiresThe Agreement also provides for the elimination or reduction of border tariffs for the following imports from Viet Nam:Copper wiresCommunication wiresRules of origin delineated in the agreement state that goods may benefit from preferential tariff treatment if:wholly produced or obtained in the country (mainly  applicable to minerals, raw materials, and waste and scrap materials)meeting specific requirements, mainly through having…

        • Policy

        • Korea

        • 2019

        Korea - Republics of Central America Free Trade Agreement

        The Korea - Republics of Central America Free Trade Agreement provides for the elimination of trade barriers among its signatory States. The Agreement gradually came into effect, as follows:Oct 01, 2019: in Nicaragua, HondurasNov 01, 2019: in Costa RicaJan 1, 2020: in El SalvadorEntry into force in Guatemala is pending, following the signature on January 8, 2024.The Agreement notably provides for the elimination of tariffs for the following energy sector products:Electric generation equipment Mechanical equipment including pumps, appliances, and other advanced machineryElectric motors, transformers, batteries, and capacitorsMotor vehiclesMineral ore and processed products including graphite, manganese, copper, aluminum, and nickelVarious…

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