The European Union and South Korea: The Legal Framework for Strengthening Trade, Economic and Political Relations

The European Union and South Korea: The Legal Framework for Strengthening Trade, Economic and Political Relations

The European Union and South Korea: The Legal Framework for Strengthening Trade, Economic and Political Relations

The European Union and South Korea: The Legal Framework for Strengthening Trade, Economic and Political Relations

Synopsis

Offers insights into the state of EU-Korea relations and considers potential lessons for other bilateral and regional initiatives. This book contains contributions by European and Korean experts in international law who each examine a particular aspect of the legal framework for EU-Korea relations, analysing the scope and substance of the relevant legal rules, as well as the opportunities and challenges for future cooperation. The contributions cover a wide range of policy areas, including trade, competition, and investment, as well as cooperation in non-economic areas, such as environmental protection and security policy, and aim to offer insights not only into the state of EU-Korea relations, but also potential lessons for other bilateral and regional initiatives.

Excerpt

James Harrison

In 2010, the European Union (EU) and the Republic of Korea launched a strategic partnership, through which they agreed to closer cooperation on a range of matters, spanning trade, investment, sustainable development and international peace and security. This book is concerned with the nature and depth of this cooperation and how the partnership is likely to develop over time. More specifically, it will focus on the proliferation of legal instruments, which has accompanied the strengthening of trade, economic and political relations between the EU and Korea.

Particular attention will be paid to two instruments, which were concluded at the same time as the launch of the strategic partnership in 2010, namely the EU–Korea Free Trade Agreement (FTA) and the EU–Korea Framework Agreement. These agreements are the legal foundation of EU–Korea relations, and it is, therefore, necessary to appreciate their scope and substance, in order to understand how they may influence the development of the strategic partnership. To this end, the book will explore the nature of the obligations undertaken by the parties in the FTA and the Framework Agreement, as well as other relevant instruments. It will consider what is required of the parties in order to comply with their commitments, and what questions of interpretation are likely to arise in the application of the FTA and the Framework Agreement, as well as how these might be answered. Moreover, it will ask what factors are likely to determine the successful implementation of the agreements in question and what obstacles may need to be overcome.

Throughout this book, the Republic of Korea will be referred to as South Korea or simply Korea.

See European Union, EU–Republic of Korea Summit Joint Press Statement, Document MEMO/10/461, Brussels, 6 October 2010.

Free Trade Agreement between the European Union and its Member States of the one part, and the Republic of Korea of the other part (EU–Korea FTA) [2011] OJ L127/6, 14 May 2011.

Framework Agreement between the European Union and its Member States on the one part, and the Republic of Korea, on the other part (EU–Korea Framework Agreement), www. eea s.europa.eu/korea_south/index_en.htm (accessed 20 April 2012).

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