Agreement

The Philippines – Korea Free Trade Agreement (PH-KR FTA) was signed by the leaders of the Philippines and South Korea on 07 September 2023. It was ratified by the Philippine Senate on 23 September 2024 and by the National Assembly of the Republic of Korea in November 2024.

The agreement will enter into force on 31 December 2024.

Implementing Executive Orders

The Philippines’ tariff commitments under the PH-KR FTA are implemented by Executive Order No. 80 (s.2024) which modified the rates of import duties on certain imported articles pursuant to the Free Trade Agreement between the Philippines and the Republic of Korea.

Date of Full Implementation

2038

Overview of Tariff Commitments

The Philippines and the Republic of Korea shall reduce or eliminate customs duties on originating goods of the other Party in accordance with their respective schedule of tariff commitments under Annex 2-A of the FTA.