ASEAN – Korea Free Trade Area (AKFTA)

About this agreement

The test test ASEAN-Korea Free Trade Area (AKFTA) eliminates tariffs for 80% of the goods traded between ASEAN and Korea. It safeguards market access and ensures a more predictable operating environment for service suppliers by creating a more transparent, facilitative, and secure environment for investors.

1 June 2007
Trade in Goods (except Thailand: 1 October 2009)
1 May 2009
Trade in Services
1 September 2009
Investment

Key benefits

  • Back-to-back shipment of goods within member countries
    Goods that are brought into Singapore from ASEAN countries or Korea and re-exported within these countries, without any processing in Singapore, can enjoy tariff concessions. Originating products passing through Parties can also retain their originating status.
  • Third-party invoicing of goods
    Customs authorities in the importing country may accept a Certificate of Origin when the sales invoice is issued from a different country or a different company exporting the originating goods in various sectors, provided that the goods meet the necessary requirement. This invoice can come from countries that are not Parties to AKFTA.
  • ASEAN Cumulation
    Originating raw materials sourced from other ASEAN countries and Korea can be considered when assessing the origin criteria of the final product manufactured in Singapore. This will make it easier for Singapore exporters’ products to meet the criteria for preferential treatment.
  • Safeguards market access
    Ensures a more predictable operating environment for service suppliers through creating a more transparent, facilitative and secure environment for investors. Investors can look forward to fair and equitable treatment and full protection and security of covered investments; transfers of funds relating to covered investments; and compensation in the event of nationalisation or expropriation of covered investment.

Eligibility

Use the Tariff Finder to see if your product is eligible to enjoy this FTA's tariff concessions.


Alternatively, you can explore the following steps to check your eligibility.

  • Your product’s preferential rate
    Check the preferential rates for your product based on your region:
  • Your product’s rule of origin

    Rules of origin are a set of criteria which determine a product's originating status in each respective FTA.

    It is put in place to ensure that only goods originating from the FTA partner countries will benefit from tariff concessions.

    Is your product obtained/produced entirely within Singapore?
    Your product is considered wholly obtained in Singapore
    Does your product fall under the list of Product Specific Rules?
    Your product may be considered as originating from ASEAN – Korea region
    40% of its contents must originate from the ASEAN – Korea region
    OR
    non-originating raw materials must have undergone a change in the first 4 digits of the HS code from the finished good

Apply

Singapore Customs is the authorised body in Singapore for FTA Preferential Certificate of Origin (PCO) application.

If your product is eligible, follow these application steps to enjoy tariff concessions:
  1. Register your factory with Singapore Customs using the Manufacturer’s Application Form
  2. Submit the Manufacturing Cost Statement
  3. Apply for a Preferential Certificate of Origin (PCO)


The process from registration to receiving the PCO typically takes less than one month.

Learn more about the rules of PCO

Submit your application
Apply for a PCO with export permit under the ASEAN – Korea Free Trade Area (AKFTA) via TradeNet.

Resources


Need additional help?

For assistance, contact us at +65 6898 1800, reach us here or visit the SME Centres.

Explore other trade resources

South Korea

South Korea

South Korea offers a booming e-commerce industry and a focus on international trade.
Market Guides

Market Guides

Learn about the unique business opportunities that each market offers.
Free Trade Agreements

Find a Free Trade Agreement (FTA)

Find the FTAs and export markets that suit your business requirements.