ECIPE & ECCK Seminar: Amending Landmarks – Upgrading the EU-Korea FTA

The EU-Korea FTA of 2011 is often hailed as the “mother of all next-generation FTAs” – and for a good reason. And with all the political turmoil that troubled CETA, TTIP, EU-Japan or the TPP, Korea is the one that rushed through before the doors of the trading system shut closed. But even a landmark can only do so much. New regulatory issues arise for foreign business in Korea or the Single Market; as a pre-Lisbon agreement, the EU-Korea FTA is also bereft of an investment chapter.

However, the preparation for upgrading this FTA coincide with the EU Member States contemplate the division of labour on investments. Meanwhile, the new economic policy under President Moon promises radical reforms for multinational and foreign business. And not least, the sight of vision is obstructed by Brexit and the Trump Administration’s repeated threats to renegotiate Korus.

What did the EU-Korea agreement deliver – and not deliver – on the ground? What are the outstanding and new regulatory issues for EU and Korean businesses? Can we push the envelope on FTAs and non-tariff measures once again, with Korea?