- Registration date2024-03-04
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The Ministry of Trade, Industry and Energy (MOTIE) announced on March 4 that Korea has completed necessary domestic procedures for joining the Digital Economy Partnership Agreement (DEPA) and submitted the application on March 4 for the Agreement’s entry into force.
Korea proceeded with domestic procedures necessary for application upon receiving the DEPA Joint Committee’s approval in September 2023, following six negotiating rounds for reaching the agreement in June 2023 on acceding to DEPA, the first country to become a non-founding member.
It is anticipated that Korea can leverage DEPA as an opportunity to open more doors to overseas e-commerce and digital content markets, centering on ASEAN, Oceania and Latin America.
In view of the lack of rules on e-commerce under the existing bilateral FTAs with New Zealand and Chile, Korea’s DEPA accession is expected to strengthen the country's digital trade network.