The EU-South Korea trade deal expands the treaties you can compete for. In South Korea, EU companies can now apply for Build-Operate Transfer (BOT) (concession services) contracts. If your company is a European construction and services company, you can compete for large infrastructure projects in South Korea, for example. B the construction and operation of motorways. The EU-South Korea trade agreement reduces the differences between the requirements for European and South Korean products by adopting the same international standards. Among the relevant international standards bodies in this sector are “Amid the rise of protectionism around the world and growing tensions between the United States and China, South Korea will focus its efforts on entering new markets,” Commerce Minister Yoo Myung-hee said in a meeting with officials of trade-related organizations. The EU-South Korea trade agreement contains four sectoral rules for the EU-South Korea trade agreement, giving you better opportunities to apply for South Korean contracts. In the area of electrical safety, South Korea has the option to continue to apply for third-party certification for a limited list of 53 items, if this can justify that they pose a risk to human health and safety. These are set out in Annex 2-B, Appendix 2-B-3, to the Trade Agreement. The Agreement establishes a high level of protection of intellectual property rights (Article 7(1)-(3) and Annex XIII), which covers areas such as patents, trademarks and copyright, and in some areas goes beyond what is provided for in the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) and other international agreements and treaties.
EU manufacturers are no longer required to produce cars specifically for the South Korean market or to carry out expensive tests to demonstrate compliance with safety standards. Under the EU-South Korea Free Trade Agreement, all rules on pharmaceuticals and medical devices must be published at an early stage so that companies have enough time to understand them. . . .
