The free trade agreement also addresses non-tariff barriers, particularly in the automotive, pharmacy, medical device and electronics sectors. A public electronic database of applications and registrations is available to verify trademarks. The database also contains information on rights to registered and unregistered designs. 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. 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). In the event of abuse, customs authorities may withdraw the status of an approved exporter. The agreement provides for the creation of a customs committee to examine and resolve potential disputes over customs facilitation and trade, including the EU-South Korea trade agreement, which expands the treaties you can compete with.
In South Korea, EU companies can now offer “build-operate transfer” (BOT) contracts( concession services). If your company is a service and construction provider in the EU, you can apply for major infrastructure projects in South Korea, such as the construction and operation of motorways.B. 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). Under the EU-South Korea free trade agreement, all rules on medicines and medical devices must be published at an early stage so that companies have sufficient time to understand them. In addition, the trade agreement requires that subsidies be transparent. If the EU or South Korea use subsidies, they must indicate each year the total amount, nature and supply of the subsidies. It went beyond all previous EU agreements to remove trade barriers and was also the EU`s first trade agreement with an Asian country. South Korea now accepts the EEC-UN`s international standards or EU standards as equivalent to all of South Korea`s important technical rules.