Overview of investment treaty programme
1. What are the key features of the investment treaties to which this country is a party?
South Korea
BIT Contracting party or MIT (Date of Entry into Force) |
Substantive protections | Procedural matters | ||||||
---|---|---|---|---|---|---|---|---|
Fair and Equitable Treatment (FET) | Expropriation | Protection and Security |
Most-favoured-nation (MFN) | Umbrella Clause | Cooling-off Period | Local Courts1 |
Arbitration2 | |
Albania (18 May 2006) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Algeria (30 September 2001) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Argentina (24 September 1996) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Armenia (3 October 2019) |
Yes |
Yes |
Yes |
Yes |
No |
180 days from request for negotiations or consultations, 90 days from notice of intent |
Yes |
Yes |
Austria (1 November 1991) |
Yes |
Yes |
Yes |
Yes |
Yes |
3 months |
No |
Yes |
Azerbaijan (25 January 2008) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Bangladesh (6 October 1988) |
Yes |
Yes |
Yes ('the most constant protection and security under the [domestic laws]') |
Yes |
Yes |
6 months |
No |
ISDS: No SSDS: Yes |
Belarus (9 August 1997) |
Yes |
Yes |
Yes ('full legal protection and security') |
Yes |
Yes |
6 months |
Yes |
Yes |
Belgium-Luxembourg Economic Union (3 September 1976) |
Yes |
Yes |
Yes |
Yes |
Yes, but limited ('any other written obligation') |
6 months |
Yes |
Yes |
Bolivia (4 June 1997, but terminated on 4 June 2019 after Bolivia gave notice of termination) |
Yes |
Yes |
No |
Yes |
Yes |
6 months |
Yes |
Yes |
Brazil (not in force) |
Yes | Yes | Yes | Yes | Yes |
6 months |
Yes | Yes |
Brunei (30 October 2003) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Bulgaria (16 November 2006) |
Yes |
Yes |
Yes |
Yes |
No |
3 months |
Yes |
Yes |
Burkina Faso (14 April 2010) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Cambodia (12 March 1997) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
No |
Yes |
Cameroon (13 April 2018) |
Yes |
Yes |
Yes |
Yes |
Yes, but limited ('any specific investment agreement between an authority at the central level of government ...') |
6 months |
Yes |
Yes |
China (1 December 2007) |
Yes |
Yes |
Yes |
Yes |
Yes |
4 months of domestic procedure, if requested by the State 90 days from notice of intent |
Yes |
Yes |
China and Japan (17 May 2014) |
Yes |
Yes |
Yes |
Yes |
Yes, but limited ('any written commitments in the form of an agreement or contract') |
4 months |
Yes |
Yes |
Colombia (not in force) |
Yes |
Yes |
Yes |
Yes |
Yes |
9 months In addition, 3 months of domestic administrative remedies |
Yes |
Yes |
Congo (13 August 2011) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Democratic Republic of Congo (not in force) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Costa Rica (25 August 2002) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Croatia (31 May 2006) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Czech Republic (16 March 1995) |
Yes |
Yes |
Yes |
Yes |
No |
3 months |
No |
Yes |
Denmark (2 June 1988) |
Yes |
Yes |
Yes |
Yes |
Yes |
3 months |
No |
Yes |
Dominican Republic (10 June 2008) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Egypt (25 May 1997) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
El Salvador (25 May 2002) |
Yes |
Yes |
Yes |
Yes |
Yes |
3 months |
No |
Yes |
Finland (11 May 1996) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
No |
Yes |
France (1 February 1979) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
No |
ISDS: No SSDS: Yes |
Germany (15 January 1967) |
Yes |
Yes |
Yes |
Yes |
No |
N/A |
No |
ISDS: No SSDS: Yes |
Greece (4 November 1995) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Guatemala (17 August 2002) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Guyana (20 August 2006) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Honduras (19 July 2001) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Hong Kong (30 July 1997) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Hungary (1 January 1989) |
Yes |
No |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
India (terminated 12 May 2017 and replaced by CEPA) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Indonesia (10 March 1994) |
Yes |
Yes |
Yes (‘adequate protection and security’) |
Yes |
No |
12 months of local remedies |
No |
Yes |
Iran (31 March 2006) |
Yes |
Yes |
Yes |
Yes |
Yes, limited ('commitments it has entered into through this Agreement') |
6 months |
Yes |
Yes |
Israel (19 June 2003, but replaced by Israel–Korea FTA) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Italy (26 June 1992) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Jamaica (5 November 2007) |
Yes |
Yes |
Yes |
Yes |
Yes |
9 month |
Yes |
Yes |
Japan (1 January 2003) |
Yes |
Yes |
Yes |
Yes |
No |
3 months |
Yes |
Yes |
Jordan (25 December 2004) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Kazakhstan (26 December 1996) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Kenya (3 May 2017) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Kuwait (31 August 2007) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
No |
Yes |
Kyrgyzstan (8 July 2008) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Laos (14 June 1996) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
No |
Yes |
Latvia (26 January 1997) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Lebanon (21 December 2006) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Libya (28 March 2007) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Lithuania (9 November 1993) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Malaysia (31 March 1989) |
Yes |
Yes |
Yes |
Yes |
No |
3 months |
No |
Yes |
Mauritania (21 July 2006) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Mauritius (7 March 2008) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Mexico (27 June 2002) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Mongolia (30 April 1991) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Morocco (8 May 2001) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Myanmar (31 October 2018) |
Yes |
Yes |
Yes |
Yes |
No |
180 days |
Yes |
Yes |
The Netherlands (1 March 2005) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Nicaragua (22 June 2001, but terminated and replaced by Korea-Republics of Central America) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Nigeria (1 February 1999) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Oman (10 February 2004) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Pakistan (15 April 1990) |
Yes |
Yes |
Yes |
Yes |
Yes |
SSDS: 6 months |
No |
ISDS: No SSDS: Yes |
Panama (8 February 2002, but terminated and replaced by Korea-Republics of Central America) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Paraguay (6 August 1993) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
The Philippines (25 September 1996) |
No |
Yes |
No |
Yes |
No |
3 months of local remedies |
Yes |
Yes |
Poland (2 February 1990) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Portugal (11 August 1996) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Qatar (16 May 1999) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Romania (30 December 1994, revised and entered into force 11 January 2008) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Russia (10 July 1991) |
Yes |
Yes |
Yes |
Yes |
Yes |
3 months |
No |
Yes |
Rwanda (16 February 2013) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Saudi Arabia (19 February 2003) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Senegal (2 September 1985) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
No |
Yes |
Slovak Republic (7 February 2006) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
South Africa (6 June 1997) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Spain (19 July 1994) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
No |
Yes |
Sri Lanka (15 July 1980) |
Yes |
Yes |
Yes |
Yes |
No |
12 months |
Yes |
Yes |
Sweden (18 June 1997) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
Switzerland (7 April 1971, but terminated and replaced by EFTA–Korea FTA) |
Yes |
Yes |
Yes |
Yes |
No |
N/A |
No |
ISDS: No SSDS: Yes |
Tajikistan (13 August 1995) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Tanzania (not in force) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Thailand (30 September 1989) |
Yes |
Yes |
Yes |
Yes |
Yes |
SSDS: 6 months |
No |
Yes |
Trinidad and Tobago (27 November 2003) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Tunisia (28 November 1975) |
Yes |
Yes |
Yes |
Yes |
No |
N/A |
No |
Yes |
Ukraine (3 November 1997) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
United Arab Emirates (15 June 2004) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
United Kingdom (4 March 1976) |
Yes |
Yes |
Yes |
Yes |
Yes |
3 months |
Yes |
Yes |
Uruguay (8 December 2011) |
Yes |
Yes |
Yes |
Yes |
Yes ('any specific investment agreement between an authority at the central level of government ...') |
6 months |
Yes |
Yes |
Uzbekistan (5 April 2023) |
Yes |
Yes |
Yes |
Yes |
No |
180 days |
No |
Yes |
Vietnam (5 June 2004) |
Yes |
Yes |
Yes |
Yes |
Yes |
6 months |
Yes |
Yes |
Zimbabwe (7 April 2021) |
Yes | Yes | Yes | Yes | Yes ('any specific investment agreement between an authority at the central level of government ...') |
6 months |
Yes | Yes |
Substantive protections | Procedural matters | |||||||
---|---|---|---|---|---|---|---|---|
Free Trade Agreements | Fair and Equitable Treatment (FET) | Expropriation | Protection and security | Most-favoured-nation (MFN) | Umbrella clause | Cooling-off period |
Local courts1 | Arbitration2 |
ASEAN (1 June 2007) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes ('provided that such courts or tribunals have jurisdictions over such claims') |
Yes |
Australia (12 December 2014) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
No |
Yes |
Canada (1 January 2015) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
No |
Yes |
Republics of Central America FTA (1 October 2019) |
Yes |
Yes |
Yes |
Yes |
No |
8 months |
Yes |
Yes |
Chile (1 April 2004) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
China (20 December 2015) |
Yes |
Yes |
Yes |
Yes |
No |
4 months |
Yes |
Yes |
Colombia (15 July 2016) |
Yes |
Yes |
Yes |
Yes |
No |
8 months |
Yes |
Yes |
EFTA (10 January 2006, but only between Korea, on the one hand, and Iceland, Liechtenstein and Switzeland, on the other) |
Yes |
Yes |
Yes |
Yes |
Yes, but limited ('any written obligation ... which the investor could rely on in good faith when establishing, acquiring or expanding the investment') |
6 months |
Yes |
Yes |
European Union (1 July 2011) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
India (1 January 2010) |
Yes |
Yes |
Yes |
No |
No |
6 months |
Yes |
Yes |
Indonesia (1 January 2023) |
Yes |
Yes |
Yes |
Yes |
No |
180 days |
Yes |
Yes |
Israel (29 November 2022) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes ("interim injuctive relief") |
Yes |
New Zealand (20 December 2015) |
Yes |
Yes |
Yes |
Yes |
No |
6 months from request for consultations 90 days from notice of intention |
Yes ("interim injuctive relief") |
Yes |
Peru (1 August 2011) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
RCEP (1 February 2022) |
Yes |
Yes |
Yes |
Yes |
No |
N/A |
N/A |
ISDS: No SSDS: Yes |
Singapore (2 March 2006) |
Yes |
Yes |
Yes |
No |
No |
6 months |
Yes |
Yes |
Turkey (1 August 2018) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
United States (15 March 2012) |
Yes |
Yes |
Yes |
Yes |
No |
6 months In addition, 90 days from notice of intention |
Yes |
Yes |
Vietnam (20 December 2015) |
Yes |
Yes |
Yes |
Yes |
No |
6 months |
Yes |
Yes |
1. A positive response of 'yes' indicates that the treaty grants an investor the explicit right to initiate a dispute under that treaty before local courts. On the other hand, a negative response of 'no' signifies that the treaty does not expressly grant the right to use local courts, making it subject to the application of local law.
2. ISDS stands for Investor-State Dispute Settlement, while SSDS refers to State-State Dispute Settlement. If there is no differentiation between the two, answering 'yes' implies that the treaty includes both ISDS and SSDS mechanisms.
Answer contributed by Woojae Kim and Changwan HanBae, Kim & Lee