The Office of the Minister for Trade at the Ministry of Trade, Industry and Energy officially notified New Zealand, the Depositary of the Digital Economic Partnership Agreement (DEPA), of Korea’s intent to join the Agreement on September 13.
The government has completed the domestic procedures to initiate negotiations on Korea’s accession to the DEPA, including a feasibility study (May 2020), public hearing (May 2021) and report to the National Assembly (August 2021), and has secured support for Korea’s accession through unofficial consultations with the current DEPA members.
The process for Korea’s accession to the DEPA is now officially underway.
The DEPA is a plurilateral digital trade agreement signed between Singapore, New Zealand, and Chile to establish key rules and strengthen cooperation for digital trade.
The DEPA has the potential to serve as an extensive platform for the establishment of a digital cooperation network in the Asia-Pacific region.
The government will initiate official negotiations to swiftly join the Agreement and actively participate in discussions on digital trade rules.