A recent ministerial meeting has considered new measures to help small and medium enterprises (SMEs) that are becoming involved in markets in the South East Asia region. The support would involve regional agreements to lower tariffs and facilitate cross border trade. The growing manufacturing sector in the region would benefit from opportunities to more easily access the regional markets. South Korea is therefore planning to broaden the scope of export liability guarantees and to conclude new free trade agreements with countries in the region. The government is also aiming to reach a decision soon on participation in the Trans-Pacific Partnership.
Related Posts

Korea (Rep.): National Assembly approves ratification of tax treaty with Andorra
The National Assembly of Korea (Rep.) approved the ratification ofĀ income tax treaty with Andorra on 13 March 2025, which was signed on 3 November 2023. The treaty will take effect once the ratification instruments are exchanged and will apply
Read More
Korea (Rep.): National Assembly approves ratification of tax treaty protocol with Kyrgyzstan
The National Assembly of South Korea (Rep.) has approved the ratification of the protocol to the 2012 income and capital tax treaty with Kyrgyzstan on 13 March 2025. The treaty was signed on 3 December 2024. The protocol will come into effect
Read More
EU, Korea (Rep.) finalise digital trade agreement
The EU and Korea (Rep)Ā finalised a Digital Trade Agreement (DTA) to boost online trade and data flows on 10 March 2025. Announced at the 12th Trade Committee meeting, the agreement will now undergo legal review before final
Read More
Korea (Rep): National Assembly approves K-Chips Act, expands tax incentives for semiconductor industry
The National Assembly of Korea (Rep.) approved a bill designed to support the semiconductor industry by offering increased tax incentives to chipmakers on Thursday, 27 February 2025. The updated Act on Restriction of Special Taxation, known as
Read More
Korea (Rep.) gazettes amendments to International Tax Adjustment Act, includes adjustments to Global Minimum Tax provisions
South Korea has published Law No. 20612 in the Official Gazette on 31 December 2024, amending the International Tax Adjustment Act, which includes several adjustments to the Global Minimum Tax provisions. The law introduces measures aligned with
Read More
Korea (Rep.), Philippines FTA enters into force
The Korea-Philippine Free Trade Agreement (FTA) entered into force on 31 December 2024, as announced by the Korean Embassy in Manila on Monday, 30 December 2024. Under the Free Trade Agreement (FTA), South Korea will eliminate tariffs on 94.8% of
Read More