ASEAN-South Korea FTA upgrade talks target 2027 conclusion
Thailand has joined negotiations to upgrade the ASEAN-South Korea Free Trade Agreement, with the aim of modernising a pact that has been in force for more than 17 years.
The upgraded agreement is expected to cover key modern trade issues, including the digital economy, supply-chain connectivity, consumer protection and competition, sustainable development and the green economy.
Officials say the revised deal will help facilitate trade, expand investment opportunities and strengthen regional competitiveness. The negotiations are targeted for conclusion in 2027.
Aumaporn Futrakul, Deputy Director-General of the Department of Trade Negotiations, said she attended the second meeting of the Joint Committee to Upgrade the ASEAN-Korea Free Trade Agreement, or AKFTA Upgrade JC, held from June 11-12, 2026, in Seoul, the Republic of Korea.
She said ASEAN member states and South Korea agreed on a work plan to drive the negotiations towards a substantial conclusion by 2027.
Aumaporn said the AKFTA Upgrade JC meeting marked an important step in improving the agreement, which has applied to Thailand for more than 17 years, to reflect the rapidly changing global economic landscape.
Both sides agreed that the upgraded agreement should cover major contemporary issues such as the digital economy, supply-chain connectivity, consumer protection and competition, sustainable development and the green economy.
These areas are intended to support trade facilitation, widen investment opportunities and increase the competitiveness of the region.
Aumaporn said the JC meeting was held alongside meetings of 13 working groups. These covered areas including the digital economy, competition and consumer protection, micro, small and medium-sized enterprises (MSMEs), intellectual property, economic cooperation, trade in goods, sustainable development and the green economy.
Thailand proposed that the economic cooperation working group and the MSME working group coordinate closely to expand opportunities for ASEAN MSMEs to benefit from cooperation in sectors where South Korea has strong potential.
Aumaporn said Thailand was ready to work closely with ASEAN members and South Korea to push the AKFTA upgrade negotiations towards concrete results that would deliver maximum benefits for businesses and people on all sides.
The third AKFTA Upgrade JC meeting is scheduled for September 2026.
South Korea is ASEAN’s fifth-largest trading partner and Thailand’s 13th-largest trading partner.
In 2025, trade between Thailand and South Korea was worth US$15.57 billion, up 1.74% from the previous year.
In the first four months of 2026, from January to April, bilateral trade reached US$6.57 billion, up 25.93%.
Thailand’s exports to South Korea were valued at US$1.99 billion, up 0.86%, while imports from South Korea stood at US$4.57 billion, up 41.30%. This resulted in a Thai trade deficit of US$2.57 billion.
Thailand’s key exports to South Korea include rubber products, aluminium products, sugar, printed circuit boards and refined oil.
Major imports from South Korea include printed circuit boards, iron, steel and related products, chemicals, machinery and parts, and electrical machinery and components.
