The agreement establishes a high level of protection of intellectual property rights (Articles 7.1 to 7.3 and Appendix XIII) that covers areas such as patents, trademarks and copyrights and, in some areas, goes beyond what is provided for in the WTO agreement on aspects of intellectual property rights affecting trade (TRIPS) and other international agreements and treaties. The agreement provides for the creation of a customs committee to examine and resolve potential disputes over customs facilitation and trade, including one of the EU`s previous agreements to remove trade barriers, and was also the EU`s first trade agreement with an Asian country. The FREE Trade Agreement BETWEEN the EU and South Korea encourages compliance with intellectual property rights by customs authorities and complements the minimum standards of the WTO agreement on trade-related aspects of intellectual property rights (TRIPS). The rules of origin are set out in the protocol on the definition of “native products” and the method of administrative cooperation of the EU-South Korea Free Trade Agreement (OJ L 347 of 31.12.2006, p. 1). L127, 14.5.2011, p. 1,344). For EFTA-Korea trade statistics, see EFTA Trade Statistics The Free Trade Agreement also addresses non-tariff barriers to trade, particularly in the automotive, pharmacy, medical device and electronics sectors. The U.S.-Korea Free Trade Agreement came into force on March 15, 2012. If you are a U.S. exporter, these are resources to answer your questions about the U.S.-Korea trade agreement: most industrial products, including fish and other seafood, will have duty-free access to the respective markets from the time the agreement comes into force. For some products imported into Korea, tariffs must be eliminated after a transitional period or after joint review by the parties (Annex V and ANNEXE VI).
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. In the first five years of the agreement, EU exports to South Korea increased by 55%, European companies saved 2.8 billion euros in tariffs and trade in goods between the EU and South Korea reached a record level of more than 90 billion euros. The EU and South Korea are cooperating in the recognition of disease-free zones to increase predictability for you as an exporter. The TRADE agreement BETWEEN the EU and South Korea reduces the differences between the requirements for European and South Korean products by applying the same international standards. In addition, the trade agreement requires that subsidies be transparent among the international standards bodies involved in this sector. If the EU or South Korea use subsidies, they must indicate each year the total amount, nature and supply of the subsidies. The customs authorities of the exporting country may authorize any exporter exporting goods outside the trade agreement to export declarations of origin for goods, regardless of their value. The exporter must provide the customs authorities with sufficient guarantees to verify the original character of the products and compliance with all other requirements of the agreement (protocol).