The Republic of Korea is a member of the World Trade Organization (WTO) and has signed subsidiary agreements, including trade Related Aspects of Intellectual Property and the Government Procurement Agreement. Korea has been a member of the Organisation for Economic Co-operation and Development (OECD) since December 1996. It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. The Republic of Korea and the United States have implemented the United States. Free trade agreement on 15 March 2012 (amended in September 2018). The agreement is the largest free trade agreement (FTA) negotiated by the United States since NAFTA. For more information on the KORUS Free Trade Agreement, see www.ustr.gov/trade-agreements/free-trade-agreements/korus-fta. Korea has free trade agreements with ASEAN, Australia, Canada, Central America (partly), Chile, China, Colombia, India, New Zealand, Peru, the European Union and the European Free Trade Association (Norway, Switzerland, Iceland and Liechtenstein), the United States, Turkey and Vietnam. The full list of free trade agreements with Korea is available on the website of the Korean Ministry of Foreign Affairs (www.fta.go.kr/main/situation/kfta/ov/). For more information on the EU-Korea free trade agreement, see the EU`s website at ec.europa.eu/trade/creating-opportunities/bilateral-relations/countries/korea/. The Republic of Korea is a member of the Asia-Pacific Economic Cooperation Forum (APEC).
One of APEC`s objectives is to create a free trade area between its member states by 2020, as indicated in the 1994 Declaration. Fundamental principles of the APEC forum include investment liberalization, tariff reduction, deregulation, public procurement and strengthening the protection of INTELLECTUAL property authorities. Korea hosted the APEC summit in 2005.