WORLD TRADE  
ORGANIZATION  WT/REG210/1 
21 April 2006 
 
 (06-1855) 
Committee on Regional Trade Agreements Original:   English 
  
 
FREE TRADE AGREEMENT BETWEEN THE REPUBLIC OF KOREA AND SINGAPORE 
 
  The following communication, dated 21 February 2006, is being circulated at the request of 
the Delegations of the Republic of Korea and Singapore. 
 
_______________ 
  
FREE TRADE AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF KOREA 
AND THE GOVERNMENT OF THE REPUBLIC OF SINGAPORE  
 
PREAMBLE
 
 
 
 The Government of the Republic of Korea  (“Korea”) and the Government of the Republic of 
Singapore (“Singapore”), hereinafter referred to as “the Parties”; 
 
 Conscious of their bonds of longstanding friendship and strong trade and investment 
relationship;  
 Recalling  the establishment of a Joint Study Gr oup to examine the benefits of a Free Trade 
Agreement between the Government  of the Republic of Korea  and the Government of the Republic of 
Singapore (“Korea-Singapore FTA”) in October 2002; 
 
 Desiring  to adopt the recommendations in the Joint Study Group Report that the Parties 
proceed to negotiate the Korea-Singapore FTA, and that the Joint Study Group Report should serve as 
a framework for negotiations on the FTA; 
 
 Reaffirming  their commitment to securing trade liberalisation and an outward-looking 
approach to trade and investment; 
 
Convinced that their economic integration would gene rate larger economies of scale, provide 
greater work opportunities, and enhance transpar ency for economic activities for their businesses as 
well as for other businesses in Asia;  
 
Sharing the belief that a free trade agreement be tween the Parties would improve their 
attractiveness to capital and human resources, and crea te larger and new markets, to expand trade and 
investment not only between them but also in the region;   
 
Affirming  their commitment to fostering the deve lopment of open market economy in Asia, 
and to encouraging economic integr ation of Asian economies in order to further the liberalisation of 
trade and investment in the region; 
 WT/REG210/1 
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   Reaffirming  that this Agreement shall contribute to  the expansion and development of world 
trade under the multilateral trading system embodied  in the Marrakesh Agreement Establishing the 
World Trade Organization (“the WTO Agreement”);   Building on their respective rights and obligations under the WTO Agreement and other 
multilateral, regional and bilateral instruments of co-operation; and 
 
 Resolved  to promote reciprocal trade and investment , and to avoid circumvention of benefits 
of regional trade integration, through the establis hment of clear and mutually advantageous trade 
rules, and industry as well as regulatory co-operation; 
 
 Have agreed  as follows:  
 
 
CHAPTER
 1:  GENERAL  PROVISIONS 
 
Article 1.1 
 
Establishment Of Free Trade Area  
 The Parties to this Agreement, consistent with Article XXIV of GATT 1994 and Article V of 
GATS, hereby establish a free trade area in accordan ce with the provisions of this Agreement. 
 
Article 1.2 
 
Objectives  
The objectives of this Agreement, as elaborated more specifically through its principles and 
rules, including national treatment, most-favoured-n ation treatment and transparency, are to:  
 
(a) liberalise and facilitate trade in goods a nd services and expand investment between 
the Parties;  
(b) establish a co-operative framework for stre ngthening the economic relations between 
the Parties;  
(c) establish a framework conducive for a more favourable environment for their 
businesses and promote conditions of fair competition in the free trade area;  
(d) establish a framework of transparent rules to govern trade and investment between 
the Parties; 
(e) create effective procedures for the implementation and application of this Agreement; 
and 
(f) establish a framework for further regional and multilateral co-operation to expand and 
enhance the benefits of this Agreement th roughout Asia, and thereby, to encourage 
economic integration of Asian economies.  
 
 
 
  WT/REG210/1 
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Article 1.3 
 
Relation To Other Agreements  
1. The Parties reaffirm their existing rights a nd obligations with respect to each other under 
existing bilateral and multilateral agreements to which both Parties are party, including the WTO 
Agreement.   
2.  In the event of any inconsistency between th is Agreement and other ag reements to which both 
Parties are party, the Parties shall immediately c onsult with each other with a view to finding a 
mutually satisfactory solution, taking into consid eration general principles of international law.  
 
3.  Notwithstanding paragraph 2, if this Agreem ent explicitly contains provisions regarding such 
inconsistency as indicated in paragra ph 2, those provisions shall apply.  
 
Article 1.4 
 
Reference To Other Agreements
 
1. For the purposes of this Agreement, any re ference to articles in GATT 1994 or  GATS 
includes the interpretative notes, where applicable. 
2. Any reference in this Agreement to any other tr eaty or international agreement shall be made 
in the same terms to its successor treaty or intern ational agreement to which both Parties are party. 
 
CHAPTER 2:  GENERAL DEFINITIONS 
 
 For the purposes of this Agreement, unless otherwise specified:  
 
 Agreement  means this free trade agreement between the Parties; 
 
 APEC means the Asia-Pacific Economic Co-operation; 
 
 citizen  means: 
 
(a) with respect to Korea, a Ko rean as defined in Article 2 of the Constitution of the 
Republic of Korea and its  domestic laws; and  
(b) with respect to Singapore, any person who is a citizen within the meaning of its 
Constitution and domestic laws; 
 Custom Valuation Agreement means the Agreement on Implem entation of Article VII of 
the General Agreement on Tariff and Trade 1994,  which is part of the WTO Agreement;  
 
 days  means calendar days including weekends and holidays; 
 
 enterprise means  any corporation, company, association, partnership, trust, joint venture, 
sole-proprietorship or other legally recognised entity that is duly incorporated, constituted, set up, or 
otherwise duly organised under the law of a Party, including branches, regardless of whether or not 
the entity is organised for pecuniary gain, privately or otherwise owned, or or ganised with limited or 
unlimited liability;  
 
  WT/REG210/1 
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  existing  means in effect at the time of en try into force of this Agreement; 
 
 GATS  means the General Agreement on Trade in Services, which is a part of the WTO 
Agreement; 
 
 GATT  1994 means the General Agreement on Tariffs a nd Trade 1994, which is a part of the 
WTO Agreement; 
 
 Generally Accepted Accounting Principles means the recognised consensus or substantial 
authoritative support in the territory of a Party with  respect to the recording of revenues, expenses, 
costs, assets and liabilities, the disclosure of inform ation and the preparation of financial statements. 
These standards may encompass broad guidelines of ge neral application as well as detailed standards, 
practices and procedures;   
Harmonized System  (HS) means the Harmonized Commodity Description and Coding 
System, including its General Rules of Interpre tation, Section Notes and Chapter Notes;  
 
measure  means any law, regulation, procedure or administrative action, requirement or 
practice; 
 
national  means a natural person who is a citizen  or permanent resident of a Party; 
 
permanent resident  means any person who has the right of permanent residence in the 
territory of a Party; 
 
person  means a natural person or an enterprise; 
 
person of a Party  means a national or an enterprise of a Party; 
 
territory  means: 
 
(a) with respect to Korea, the land, mariti me, and air space under its sovereignty, and 
those maritime areas, including the seabed and subsoil adjacent to the outer limit of 
the territorial sea over which it exercises sovereign rights or jurisdiction in 
accordance with international law and its domestic law; and 
(b) with respect to Singapore, its land territo ry and airspace above in accordance with 
international law, internal waters and te rritorial sea as well as the maritime zones 
beyond the territorial sea, including the seab ed and subsoil, over which the Republic 
of Singapore exercises sovereign rights or jurisdiction under its national laws and 
international law for the purpose of expl oration and exploitation of the natural 
resources of such areas; and 
WTO Agreement  means the Marrakesh Agreement Establishing the World Trade 
Organization, done on April 15, 1994.  
 
 
  
 
   WT/REG210/1 
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CHAPTER 3:  NATIONAL TREATMENT AND MARKET ACCESS FOR GOODS 
 
Article 3.1 
 
Definitions  
 For the purposes of this Chapter: 
 
 other duties or charges  means any duty or charge of any kind, except customs duty,  
imposed on or in connection with the importation of  goods of the other Party, but does not include 
any:  
 
(a) duty imposed pursuant to Chapter 6 (Trade Remedies);  
(b) charge equivalent to an internal tax impo sed consistently with Article III:2 of GATT 
1994;  
(c) fee or other charge in connection with importation commensurate with the cost of 
services rendered;   
(d) premium offered or collected on an im ported good arising out of any tendering 
system in respect of the administration of  quantitative import restrictions, tariff rate 
quotas or tariff preference levels; or   
(e) duty imposed pursuant to Article 5 of the WTO Agreement on Agriculture.  
Article 3.2 
 
Scope And Coverage  
 This Chapter shall be applied to th e trade in goods between the Parties. 
 
Article 3.3 
 
National Treatment  
 Each Party shall accord national treatment to the goods of the other Party in accordance with 
Article III of GATT 1994.  To this end, Article III of GATT 1994 is incorporated into and made part of 
this Agreement. 
 
Article 3.4 
 
Tariff Elimination  
1. Except as otherwise provided in this Agreemen t, each Party shall progressively eliminate its 
customs duties and other duties or charges on origin ating goods of the other Party in accordance with 
its Tariff Elimination Schedule set out in Annex 3A.  
 
2.  Upon request of a Party, the Parties shall c onsult to consider accele rating the elimination of 
customs duties as set out in their Tariff Elimination Schedules or incorporating into one Party’s Tariff 
Elimination Schedule goods that are not subject to the Tariff Elimination Schedule. An agreement by 
the Parties to accelerate the elimination of custom s duties on an originating good or to include a good 
in the Tariff Elimination Schedule shall supersed e any duty rate or staging category determined WT/REG210/1 
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  pursuant to their Tariff Elimination Schedules for such good, shall be treated as an amendment to 
Annex 3A and shall enter into force in acco rdance with the procedure under Article 22.4. 
 
Article 3.5 
 
Customs Valuation
 
The Parties shall apply Article VII of GATT 1994 an d the provisions of Part I of the Customs 
Valuation Agreement for the purposes of determining the customs value of goods traded between the 
Parties.  
Article 3.6 
 
Export Duty
 
 Neither Party shall adopt or maintain any du ties on goods exported from its territory into the 
territory of the other Party.     
Article 3.7 
 
Goods Re-Entered After Repair Or Process  
 
    In accordance with its domestic laws a nd regulations, each Party may exempt or reduce a 
customs duty to a good, regardless of its origin, that  re-enters its territory after that good has been 
exported or if it was under a temporary exit from its te rritory to the territory of the other Party for 
repair or process, regardless of whether such repa ir or process could be performed in its territory. 
 
Article 3.8 
 
Import And Export Restrictions  
1. Neither Party may adopt or maintain any pr ohibition or restriction on the importation of any 
good of the other Party or on the exportation or sale for export of any good destined for the territory 
of the other Party, except in accordance with ri ghts and obligations under the WTO Agreement, or 
except as otherwise provided in this Agreement.  
2. In the event that a Party adopts or maintains a prohibition or restriction on the importation of 
a good from a non-Party, nothing in this Agreement shall be construed to prevent the Party from limiting or prohibiting the importation from the territory of the other Party of such a good of that non-Party.  
3. In the event that a Party adopts or maintains a prohibition or restriction on the importation of 
a good from a non-Party, the Parties, upon request of the other Party, shall consult with a view to avoiding undue interference with or distortion of pr icing, marketing and distribution arrangements in 
the other Party. 
Article 3.9 
 
Customs User Fees 
 
 Customs user fees shall be limited in amount to  the approximate cost of services rendered and 
shall not represent an indirect protection for domestic  products or a taxation of  imports or exports for  WT/REG210/1 
 Page 7 
 
 
fiscal purposes.  They shall be based on specific rat es that correspond to the real value of the service 
rendered. 
 
Article 3.10 
 
Balance Of Payment Exception  
1. Where a Party is in serious balance of paymen ts and external financial difficulties or threat 
thereof, it may, in accordance w ith GATT 1994 and the Understanding on the Balance-of-Payments 
Provisions of GATT 1994, adopt restrictive import m easures. The relevant provisions of GATT 1994 
and the Understanding on the Balance-of-Pay ments Provisions of GATT 1994 are hereby 
incorporated into and made part of the Agreement.  
 2. The Party introducing a measure under this Article shall promptly notify the other Party.  
 
 
CHAPTER 4:  RULES OF ORIGIN 
 
Article 4.1 
 
Definitions
 
For the purposes of this Chapter:  
 
customs value  means: 
 
(a) the price actually paid or payable for a good or  material with respect to a transaction 
of the seller of the good, pursuant to the principles of Article 1 of the Customs Valuation Agreement, adjusted in acco rdance with Article 8 of the Customs 
Valuation Agreement; or 
(b) in the event that there is no such value or  such value of the good is unascertainable, 
the value determined in accordance with  Articles 2 through 7 of the Customs 
Valuation Agreement; 
F.O.B. means free on board value of a good payable by the buyer to the seller, regardless of the 
mode of transportation, not including any internal excise taxes reduced, exempt ed, or repaid when the 
good is exported; 
 
fungible goods or materials means goods or materials that ar e interchangeable for commercial 
purposes and whose properties are essentially identical;  
good means any merchandise, product, article or material; 
 
goods wholly obtained or produced entirely in the territory of one or both of the Parties  
means: 
 
(a) mineral goods extracted there;  
(b) plants and plant products grown and ha rvested, picked or gathered there;  
(c) live animals born and raised there;  
(d) goods obtained from hunting or trapping conducted there;  WT/REG210/1 
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  (e) goods obtained from fishing within the outer li mit of the territorial sea of one or both 
of the parties;  
(f) products of sea-fishing and other products taken from the sea outside of the  territorial 
sea of one or both of the Parties by vessels registered or recorded with a Party and flying its flag;   
(g) goods produced on board factory ships from the goods referred to in paragraph (f), 
provided such factory ships are registered  or recorded with one of the Parties  and 
flying its flag;  
(h) goods taken by a Party or a person of a Party from the seabed or beneath the seabed 
outside territorial waters, provided that th e Party has rights to exploit such seabed;  
(i) goods taken from outer space, provided that they are obtained by a Party or a person 
of a Party and not processed in the territory of a non-Party;  
(j) waste and scrap derived from: 
(i) production there; or  (ii) used goods collected there, provided that such goods are fit only for the 
recovery of raw materials; and 
 
(k) goods produced in the territory of one or both of the Parties exclusively from goods 
referred to in paragraphs (a), (b), (c), (d), (e), (f), (g), (h), (i) and  (j), or from their 
derivatives, at any stage of production; 
intermediate material  means a material that is self-produ ced and used in the production of a 
good, and designated pursuant to Article 4.7; 
material means a good that is used in the pr oduction of another good and physically 
incorporated into the good;  
non-originating good or non-originating material means a good or material that does not 
qualify as originating under this Chapter; 
 
originating material  means a material that qualifies as originating under Article 4.2; 
 
packing materials and containers for shipment means goods used to protect a good during its 
transportation, different from those containers or materials used for its individual sale; 
 
producer  means a person who grows, mines, raises , harvests, fishes, reproduces and breeds, 
traps, hunts, manufactures, processes, assembles or disassembles a good; 
 production means method of obtaining goods including growing, raising, mining, harvesting, 
fishing, reproducing and breeding, trapping, hunting, manufacturing, processing, assembling or 
disassembling a good; 
 
used means used or consumed in the production of goods; and 
 
value of materials means : 
  WT/REG210/1 
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(a) except in the case of packing materials and containers for shipment, for the purposes 
of calculating the regional value content of a good and for the purposes of applying the De Minimis rule, the value of a material  that is used in the production of a good 
shall: 
(i) for a material that is imported by the producer of the good, be the customs 
value of the material with respect to the importation including the costs of  
freight, insurance, packing and all other costs incurred in the international shipment of that material to the location of the producer, if not included; 
(ii) for a material purchased in the territory where the good is produced, be the 
producer's price actually paid or payabl e for the material including the costs 
of freight, insurance, packing and all other costs incurred in transporting the 
material to the location of the producer, if not included; and  
(iii) for an intermediate material, be de termined by computing the sum of: 
 (A) all costs incurred in the production of the material, including general 
 expenses; and 
 
 (B) an amount for profit;  
 
(b) for the value of non-originating materials, the following expenses may be deducted 
from the value of the material:  
(i) the duties, taxes and customs brokerage fees on the materials paid in the 
territory of one or more of the Parties,  other than the duties and taxes that are 
waived, refunded, refundable or otherwise recoverable, including credit against duties or taxes paid or payable; 
(ii) inland transportation costs incurred to tr ansport the materials to the local  
producer; 
(iii) the costs of waste and spoilage resulti ng from the use of the material in the 
production of the good, less the value of  renewable scrap or by-product; and 
(iv) the cost of originating materials used in the production of the non-originating 
material in the territory of a Party. 
Article 4.2 
 
Originating Goods
 
1. For the purposes of this Agreemen t, an originating good means a good: 
 
(a) wholly obtained or produced entirely in the territory of one or both of the Parties; 
(b) that has satisfied the requirements specified  in Annex 4A as well as other applicable 
requirements under this Chapter as a result of the production occurring entirely in the 
territory of one or both of the Parties; 
(c) otherwise provided as an originating good under this Chapter; or WT/REG210/1 
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  (d) produced entirely in the territory of on e or both of the Parties exclusively from 
originating materials pursuant to this Chapter. 
2. Product-specific rules, requiring that the materials used undergo a change in tariff 
classification or a specific manufacturing or processing operation, shall apply on ly to non-originating 
materials.   
Article 4.3 
 
Treatment Of Certain Goods
 
1. The goods listed in Annex 4B shall be origina ting goods when the goods are imported into the 
territory of Singapore from the territory of Korea. The goods shall also be originating material for 
purposes of satisfying the requirement s specified in this Chapter. 
2. Upon request of a Party, the Parties shall have  consultations on the operation or revision of 
this Article and Annex 4B. 
Article 4.4 
 
Outward Processing  
1. Notwithstanding the relevant provisions of Ar ticle 4.2 and the product-specific requirements 
set out in Annex 4A, a good listed in Annex 4C sh all be considered as originating even if it has 
undergone processes of production or operation outside the territory of a Party on a material exported 
from the Party and subsequently re-imp orted to the Party, provided that: 
 
(a) the total value of non-originating inputs as set out in paragraph 2 does not exceed 
forty (40) per cent of the customs value of the final good for which originating status is claimed; 
(b) the value of originating materials is not less than forty-five (45) per cent of the 
customs value of the final good for which originating status is claimed; 
(c) the materials exported from a Party shall ha ve been wholly obtained or produced in 
the Party or have undergone there processes of production or operation going beyond 
the non-qualifying operations in Article 4.16, prior to being exported outside the territory of the Party; 
(d) the producer of the exported material and the producer of the final good for which 
originating status is claimed are the same; 
(e) the re-imported good has been obtained through the processes of production or 
operation of the exported material; and 
(f) the last process of production or operation
4-1 takes place in the territory of the Party. 
2. For the purposes of paragraph 1(a), the total va lue of non-originating inputs shall be the value 
of any non-originating materials added in a Party as well as the value of any materials added and all 
other costs accumulated outside the territory of the Party, including transportation cost. 
                                                      
4-1 The last process of production or operation does not exclude the non-qualifying operations stipulated 
in Article 4.16  WT/REG210/1 
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Article 4.5 
 
Regional Value Content  
 When a regional value content is required to de termine an originating good, the regional value 
content of a good shall be calculated on the basis of the following method: 
 
 CV - VNM  
RVC = ---------------------- x 100 
CV 
where  
RVC  is the regional value content, expressed as a percentage; 
 CV   is the customs value adju sted to an F.O.B. basis; and 
 
VNM   is the value of non-originating materials used by the    producer in the production of the good. 
 
Article 4.6 
 
Unassembled Or Disassembled Goods
 
 A good that is imported into the territory of a Party in an unassembled or disassembled form 
but is classified as an assembled good pursuant to th e provisions of sub-paragr aph (a) of paragraph 2 
of the General Rule for the Interpretation of th e Harmonized System shall be considered as an 
originating good, if the good meets the requirements of Article 4.2.  
Article 4.7  
 
Intermediate Materials
 
 Any self-produced material that  is used in the production of a good may be designated by the 
producer of the good as an intermediate material for the purpose of calculating the regional value 
content of the good under Article 4.5, provided that where the intermediate material is subject to a 
regional value content requirement, no other self-produ ced material subject to a regional value content 
requirement used in the production of that interm ediate material may itself be designated by the 
producer as an intermediate material.  
 
Article 4.8  
 
Neutral Elements  
In order to determine whether a good originates it shall not be necessary to determine the origin 
of the following which might be used in its  production  and not incorporated into the good:  
(a) fuel and energy; 
(b) tools, dies and moulds; 
(c) spare parts and materials used in the maintenance of equipment and buildings; 
(d) lubricants, greases, compounding materials and other materials used in production or 
used to operate equipment and buildings; WT/REG210/1 
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  (e) gloves, glasses, footwear, clothing, safety equipment and supplies; 
(f) equipment, devices and supplies used fo r testing or inspecting the goods; and 
(g) any other goods that are not incorporated into the good but whose use in the 
production of the good can reasonably be de monstrated to be a part of that 
production. 
Article 4.9 
 
Accumulation
 
1. Originating materials from the territory of a Party  incorporated in the production of a good in 
the territory of the other Party, shall be considered  to originate in the territory of the other Party. 
 
2. For the purpose of establishing that a good is originating, the producer of a good may accumulate one’s production with the production, in the territory of one or both of the Parties by one 
or more producers, of materials incorporated in the production of the good, so that the production of those materials is considered as done by that producer, provided that the good complies with the 
criteria set out in Article 4.2. 
 
Article 4.10 
 
De Minimis
 
1. A good that does not undergo a change in tariff classification pursuant to Annex 4A shall be 
considered as originating if:  
(a) the value of all non-originating materials used in its production that do not undergo 
the required change in tariff classification does not exceed ten (10) per cent of the 
customs value of the good; and 
(b) the good meets all other applicable criteria set forth in this Chapter for qualifying as 
an originating good. 
 The value of such non-originating materials sh all, however, be included in the value of non-
originating materials for any applicable re gional value content requirement for the good. 
 
2.   Paragraph 1 shall not apply to: 
 (a) a non-originating material used in the pr oduction of a good provided for in Chapters 1 
through 14 of the Harmonized System; and 
(b) a non-originating material used in the production of a good provided for in Chapters 
15 through 24 of the Harmonized System unless the non-originating material is 
provided for in a different subheading from that of the good for which the origin is being determined under this Article. 
3. A good provided for in Chapters 50 through 63 of the Harmonized System that is not an 
originating good, because certain fibres or yarns used  in the production of the component of the good 
that determines the tariff classification of the good do not undergo an applicable change in tariff 
classification set out in Annex 4A, shall nonetheless be c onsidered as originating if the total weight of  WT/REG210/1 
 Page 13 
 
 
all such fibres or yarns in that component is not more  than eight (8) per cent of the total weight of that 
component. 
 
Article 4.11  
 
Fungible Goods And Materials  
1. The determination of whether fungible goods or materials are originating goods shall be made 
either by physical segregation of each good or materi al or through the use of any of the inventory 
management method, such as averag ing, last-in, first-out, or first in, first-out, recognised in the 
Generally Accepted Accounting Principles of a Pa rty in which the production is performed or 
otherwise accepted by the Party in  which the production is performed. 
 2. Once a particular inventory management me thod is selected under paragraph 1, that method 
shall continue to be used for those fungible goods or materials throughout the fiscal year of the person 
that selected the inventory management method. 
 
Article 4.12 
 
Accessories, Spare Parts And Tools
 
1. Accessories, spare parts, or tools, deliver ed with a good that form part of standard 
accessories, spare parts or tools of the good, shall be considered as originating if the good is an 
originating good, and shall be disregarded in de termining whether all the non-originating materials 
used in the production of the good undergo the applicab le change in tariff classification set out in 
Annex 4A, provided that: 
 
(a) the accessories, spare parts or tools are no t invoiced separately from the good; and 
(b) the quantities and value of the accessories, sp are parts or tools are customary for the 
good.  
2.  If the good is subject to a regional value- content requirement, the value of the accessories, 
spare parts or tools shall be taken into account as or iginating or non-originating materials, as the case 
may be, in calculating the regional value content of the good. 
 
Article 4.13 
 
Packaging Materials And Containers For Retail Sale  
 Packaging materials and containers in which a good is packaged for retail sale shall, if 
classified with the good, be disregarded in determ ining whether all the non-originating materials used 
in the production of the good undergo the applicable  change in tariff classification set out in Annex 
4A, and, if the good is subject to a regional value content requirement, the value of such packaging 
materials and containers shall be taken into account  as originating or non-originating materials, as the 
case may be, in calculating the regional value content of the good. 
 
Article 4.14 
 
Packing Materials And Containers For Shipment  
 Packing materials and containers in which a good is packed for shipment shall be disregarded 
in determining whether:  
 WT/REG210/1 
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  (a) the non-originating materials used in the production of the good undergo an 
applicable change in tariff classi fication set out in Annex 4A; and 
(b) the good satisfies a regional value content requirement. 
Article 4.15 
 
Direct Consignment
 
 A good shall not be considered to be an originating good of  a Party by reason of having 
undergone production that satisfies the requirements of Article 4.2, if, subsequent to that production: 
(a) the good is not transported directly to the territory of the other Party; or 
(b) where the good is shipped through or transshipped in the territory of a country that is 
not a Party under this Agreement, the im porter has failed to meet the requirements 
stipulated in paragraph (c) of Article 5.9.  
Article 4.16  
 
Non-Qualifying Operations  
 Notwithstanding any provision in this Chapte r, a good shall not be considered to have 
satisfied the requirements for an originating good in  Article 4.2 merely by reason of going through 
certain operations or processes including, inter alia , the following: 
 
(a) operations to ensure the preservation of products in good cond ition during transport 
and storage (such as drying, freezing, keepi ng in brine) and othe r similar operations; 
(b) changes of packaging and breaking up and assembly of packages; 
(c) affixing marks, labels and other like dis tinguishing signs on products or their 
packaging; 
(d) disassembly; 
(e) testing or calibrations; 
(f) placing in bottles, cases, boxes and other simple packaging operations; 
(g) simple cutting, including peeling, unshe lling or unflaking, grain removing, removal 
of bones, crushing or squeezing, and macerating; 
(h) simple mixing; 
(i) simple assembly of parts to constitute a complete product; 
(j) simple making-up of sets of articles; 
(k) slaughter of animals; 
(l) quality check or grinding;  WT/REG210/1 
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(m) elimination of dust from broken or damaged pa rts, application of oil, paint for rust 
treatment or other protecting materials; 
(n) salifying or sweetening; 
(o) dilution with water or with any othe r aqueous, ionized or salted solution; 
(p) division of bulk shipment; and 
(q) a combination of two or more operations re ferred to in paragraphs (a) through (p), 
carried out in the territory of the Parties, wh en non-originating materi als are used in those 
operations. 
 
Article 4.17 
 
Interpretation And Application  
For the purposes of this Chapter: 
 
(a) the basis for tariff classification in this Ch apter is the Harmonised System as amended 
on January 1, 2002; 
(b) in applying the Customs Valuation Agreement  for the determination of the origin of a 
good under this Chapter: 
(i) the principles of the Customs Valuation Agreement  shall apply to domestic 
transactions, with such modifications as may be required by the circumstances, as would apply to international transactions;  
(ii) the provisions of this Chapter sh all take precedence over the Customs 
Valuation Agreement  to the extent of any difference; and  
(iii) the definitions in Article 4.1 shall take  precedence over the definitions in the 
Customs Valuation Agreement  to the extent of any difference; and 
(c) all costs referred to in this Chapter shall be recorded and maintained in accordance 
with the Generally Accepted Accounting Princi ples applicable in the territory of the 
Party in which the good is produced. 
Article 4.18  
 
Consultations And Modifications
 
1. The Parties shall consult and co-operate to ensure  that this Chapter is applied in an effective 
and uniform manner. 
2. The Parties shall consult to review the rules of origin and discuss necessary amendments to 
this Chapter and its Annexes, as provided in Article  22.1 or upon the request of a Party, taking into 
account developments in technolog y, production processes, and othe r related matters including the 
recommended amendments to the Harmonized System. 
 
 WT/REG210/1 
Page 16  
 
  CHAPTER
 5:  CUSTOMS  PROCEDURES 
 
Article 5.1 
Definitions  
 For the purposes of this Chapter: 
 
 certificate of origin  means respective forms used for pur poses of claiming preferential tariff 
treatment in the importing Party, certifying that an exported good qualifies as an originating good in accordance with Chapter 4 (Rules of Origin), on the basis of documentary evidence or reliable 
information;  
 
 certification body  means a body referred to in Annex 5A; 
 
 customs administration  means the competent authority that is responsible under the law of a 
Party for the administration of customs laws and regulations;  
 
 exporter  means a person located in the territory of a Party from where a good is exported by 
such a person;   importer  means a person located in the territory of  a Party where a good is imported by such 
a person; 
 
 identical goods  means "identical goods" as defined in the Customs Valuation Agreement; 
  producer  is as defined in Article 4.1; 
 
 production  is as defined in Article 4.1; 
 
Cost and Production Statement  means a declaration made by the producer, in the 
calculation of the regional value content, the HS  tariff classifications of the product and its non-
originating material used, to determine the origin ating status of the good. The declaration should be 
signed by a designated authority, generally the managing director or accountant of the company . The 
declaration may be made by the importer or exporter,  if he or she has per tinent information to the 
production of the good. Notwithstanding the above, th e producer shall not be required to provide the 
information to the importer or the exporter;   
value  means value of a good or material for pur poses of calculating customs duties or for 
purposes of applying Chapter 4 (Rules of Origin);  
Declaration for Preference  means an application for claiming preferential tariff treatment 
declared, on the basis of a certificate of origin or  any other documentary evidence of origin, by an 
importer to the customs administration as part of the import application that an imported good qualifies as an originating good in accordance with Chapter 4. 
 
Article 5.2 
 
Certificate Of Origin
 
1. The Parties shall adopt two respective forms of th e certificate of origin as set out in Annex 5B 
and Annex 5C, which may be revised by  agreement between the Parties.   WT/REG210/1 
 Page 17 
 
 
2. The respective certificate of origin, referred to  in paragraph 1, shall be issued by the 
certification bodies of the exporting Party. 
3. The issued certificate of origin shall be valid for twelve (12) months from the date of issue. 
4. Each Party shall inform, through its customs admi nistration, the other Party of the names and 
addresses of the authorised signatories issuing this  certificate of origin and shall provide specimen 
impressions of signatures and official seals used by such signatories. Any change in names, addresses, 
signatures or official seals shall be promptly notified to the other Party.  
5. Each Party shall: 
(a) require an exporter in its territory to comp lete and sign an application for certificate 
of origin for any good which an importer may claim preferential tariff treatment on 
importation of the good into the territory of the other Party; and  
(b) provide that where an exporter in its territory is not the producer of the good, the 
exporter may complete and sign an application for a certificate of origin on the basis 
of: 
(i) the exporter’s knowledge that the good qualifies as an originating good; or 
(ii) the exporter’s reasonable reliance on the producer’s written representation 
that the good qualifies as an originating good. 
6. The certificate of origin shall be  issued in the English language. 
7. Each Party shall provide that a certificate of or igin that has been issued by authorised body 
designated by each Party is applicable to a single importation of a good into its territory. 
8. In cases where a certificate of or igin has not been issued at the time of exportation or soon 
thereafter due to involuntary errors or omissions or  other valid causes, the certificate of origin may be 
issued retrospectively but not later than  one year from the date of shipment. 
Article 5.3 
 
Claims For Preferential Treatment  
1. Each Party shall require an importer in its territo ry that claims preferential tariff treatment for 
a good imported into its territory from the territory of the other Party to: 
 
(a) make a declaration for preference as part of the import application prescribed by its 
legislation, based on importer’s knowle dge or information including a valid 
certificate of origin, that the good qualifies as an originating good; 
(b) submit the certificate of origin or other docum entary evidence of origin at the time of 
the declaration referred to in subparagra ph (a), to its customs administration upon 
request; and 
(c) promptly make a corrected declaration and pay any duties owing, where the importer 
has reason to believe that a certificate of origin on which a declaration was based 
contains information that is incorrect. WT/REG210/1 
Page 18  
 
  2. Each Party shall provide that the importing Part y applies preferential tariff treatment only in 
cases where an importer proves the accuracy of orig in of the imported goods through documentary 
evidence or any other relevant information in accordance with its laws and regulations. 
3. A Party may deny preferential tariff treatment to an imported good if the importer fails to 
comply with requirements of this Chapter. 
4. The importing Party shall grant preferential tari ff treatment to goods imported after the date 
of entry into force of this Agreement, in cases where the importer does not have the certificate of 
origin or other documentary evidence of origin at the time of importation, provided that:  
(a) the importer had, at the time of importation, indicated to the customs administration 
of the importing Party his intention to claim preferential tariff treatment; and 
(b) the certificate of origin or other documenta ry evidence of origin is submitted to its 
customs administration within such period from the date of payment of customs duties in accordance with the domestic laws and regulations in the importing Party. 
Article 5.4 
 
Obligations Relating To Exportations
 
1. Each Party shall provide that an exporter or a producer in its territory shall submit a copy of 
the certificate of origin or other documentary evidence of origin to its customs administration upon 
request. 
2. Each Party shall provide that a false statement by an exporter or a producer in its territory that 
a good to be exported to the territory of the othe r Party qualifies as an originating good shall be 
penalised for a contravention of its customs laws  and regulations regarding the making of a false 
statement or representation. Furthermore, each Pa rty may apply such measures as the circumstances 
may warrant where an exporter or a producer in its territory fails to comply with any requirement of 
this Chapter. 
Article 5.5 
 
Record Keeping Requirement  
1. Each Party shall provide that an exporter a nd a producer in its territory that has obtained a 
certificate of origin shall maintain in its territo ry, for five (5) years after the date on which the 
certificate of origin was issued or for such longe r period as the Party may specify, all records relating 
to the origin of a good for which preferential tariff treatment was claimed in the territory of the other 
Party, including records associated with: 
 
(a) the purchase of, cost of, value of, shipping of, and payment for, the good that is 
exported from its territory; 
(b) the sourcing of, the purchase of, cost of, value of, and payment for, all materials, 
including neutral elements, used in the production of the good that is exported from 
its territory; and 
(c) the production of the good in the form in which the good is exported from its 
territory.  WT/REG210/1 
 Page 19 
 
 
2. Each Party shall provide that an importer claiming preferential tariff treatment for a good 
imported into the Party's territory shall maintain in that territory, for five (5) years after the date of 
importation of the good or for such longer period as the Party may specify, such documentation, 
including a copy of the certificate of origin, as the Party may require relating to the importation of the 
good.      
3. The records to be maintained  in accordance with paragraphs 1 and 2 shall include electronic 
records and shall be maintained in accordance with the domestic laws and practices of each Party. 
 
Article 5.6 
 
Waiver Of Certificate Of Origin
 
1. Notwithstanding paragraph 1(b) of Article 5.3, a certificate of origin shall not be required for: 
 
(a) an importation of a good whose aggregate customs value does not exceed USD 1,000 
or its equivalent amount in the Party’s currency, or such higher amount as it may 
establish; or  
(b) an importation of a good into the territory of the importing Party, for which the 
importing Party has waived the requirement fo r a certificate of origin in accordance 
with its domestic laws and practices;  
 provided that the importation does not form pa rt of one or more importations that may 
reasonably be considered to have been undertak en or arranged for the purpose of avoiding the 
certification requirements of Articles 5.2 and 5.3. 
 2. The importing Party may request the importer in  paragraph 1 to provide  relevant documents 
to certify that the good qualifies as an originating good. 
 
Article 5.7 
 
Verifications For Preferential Tariff Treatment
 
1. For the purposes of determining whether a good im ported into its territory from the territory 
of the other Party is eligible for preferential ta riff treatment, the importing Party may, through its 
customs administration, conduct a verification, which may be in sequence, by means of:   
(a) request for a certificate of origin from the importer; 
(b) request for Cost and Production Statemen t and information from the importer for 
cases where the importer is able to prep are it on the basis of the importer’s own 
documentary evidence or information;  
(c) request for Cost and Production Statemen t and information from an exporter or a 
producer in the territory of the other Party through the other Party’s customs 
administration; 
(d) visit to the premises of an exporter or a producer in the territory of the other Party to 
review the records referred to in paragra ph 1 of Article 5.5 and observe the facilities 
used in the production of the good, or to  that effect any facilities used in the 
production of the materials; or 
(e) such other procedure as the Parties may agree to. WT/REG210/1 
Page 20  
 
  2. The importer, exporter or producer that recei ves a written request pursuant to subparagraphs 
(a), (b) or (c) of paragraph 1 sha ll answer and return it within a period of thirty (30) days from the 
date on which it was received.  During this period,  the importer, exporter or producer may have one 
opportunity to make a written request to the Party conducting the verification for an extension of the 
answering period, for a period not exceeding thirty (30) days. 
 
3. In the case where the importer, exporter, or producer does not return the written request for information made by the importing Party within th e given period or its extension, or that the 
information provided is false or incomplete, the Party may deny preferential tariff treatment.   
4. Prior to conducting a verification visit pursuan t to subparagraph 1(d), a Party shall, through 
its customs administration:  
(a) deliver a written notification of its intention to conduct the visit to: 
(i) the exporter or producer whose prem ises are to be visited; and 
(ii) the customs administration of the other Party; and 
(b) obtain the written consent of the exporter or  producer whose premises are to be 
visited. 
5. Where an exporter or producer has not give n its written consent to a proposed verification 
visit within thirty (30) days from the receipt of notification pursuant to paragraph 4, the notifying 
Party may deny preferential tariff treatment to the relevant good. 
 
6. Each Party shall provide that, upon receipt of  notification pursuant to paragraph 4, such an 
exporter or producer may, within fifteen (15) days of receiving the notification, have one opportunity 
to request to the Party conducting the verification for a postponement of the proposed verification visit, for a period not exceeding sixty (60) days. This extension shall be notified to the customs 
administration of the importing and exporting Parties. 
 7. A Party shall not deny preferential tariff treat ment to a good solely because a verification visit 
was postponed pursuant to paragraph 6.  8. After the conclusion of a verification visit, the Party conducting the verification, shall provide 
the exporter or producer whose good was verified, w ith a written determination of whether the good is 
eligible for preferential tariff treatment, based  on the relevant law and findings of fact. 
 9. Where verifications by a Party show that an  exporter or producer repeatedly makes false or 
unsupported representations that a good imported into the Party’s territory qualifies as an originating 
good, the Party may suspend the preferential tariff trea tment to be accorded to subsequent shipment of 
identical good exported or produced by such a person  until that person establis hes that the shipment 
complies with Chapter 4 (Rules of Origin), in acc ordance with its domestic  laws, regulations or 
practices.  The importing Party shall inform the customs administration of the exporting Party on the 
evidence and details of the suspension made. 
 
Article 5.8 
 
Advance Rulings
 
1. Prior to the importation of a good into its  territory, each Party, through its customs 
administration, shall provide for the issuance of wr itten advance rulings to an importer of the good in  WT/REG210/1 
 Page 21 
 
 
its territory or to an exporter or producer of the good in the other Party’s territory concerning tariff 
classification, questions arising from the appli cation of the Customs Valuation Agreement and 
country of origin so as to determine whether the good qualifies as an originating good. 
2. Each Party shall adopt or maintain proce dures for the issuance of advance rulings, including:  
(a) the provision that an importer or its agent in its territory or an exporter or producer or 
their agent in the territory of the other Pa rty may request such a ruling prior to the 
importation in question; 
(b) a detailed description of the information re quired to process a request for an advance 
ruling; and 
(c) the provision that the advance ruling be based on the facts and circumstances 
presented by the person requesting the ruling. 
3. Each Party shall provide that its customs administrations: 
(a) may request, at any time during the course of evaluating an application for an 
advance ruling, additional information n ecessary to evaluate the application; 
(b) shall issue the advance ruling expeditiously, and in any case within ninety (90) days 
of obtaining all necessary information; and 
(c) shall provide, upon request of the person who requested the advance ruling, a full 
explanation of the reasons for the ruling. 
4. The importing Party may modify or revoke the issued ruling: 
(a) if the ruling was based on an error of fact; 
(b) if there is a change in the material fa cts or circumstances on which the ruling was 
based; 
(c) to conform with an amendment to this Agreement; or  
(d) to conform with a judicial or administration decision or a change in its domestic laws 
and regulations. 
5. Each Party shall provide that any modification or revocation of an advance ruling is effective 
on the date on which the modification or revocation is  issued, or on such a later date as may be 
specified therein, and shall not be applied to impor tations of a good that have occurred prior to that 
date, unless the person to whom the advance ruling wa s issued has not acted in accordance with its 
terms and conditions. 
6. Notwithstanding paragraph 5, the issuing Part y shall postpone the effective date of such 
modification or revocation for a period not exceeding sixty (60) days where the person to whom the 
advance ruling was issued demonstrates that it has re lied in good faith to its detriment on that ruling. 
7. Each Party shall provide that where it i ssues an advance ruling to a person that has 
misrepresented or omitted material facts or circumst ances or failed to act in accordance with the terms 
and conditions of the ruling, the Party may impose pe nalties or deny the preferential tariff treatment as 
the circumstances may warrant. WT/REG210/1 
Page 22  
 
  8. A good that is subject to an origin verification process or any instance of review or appeal in 
the territory of one of the Parties may not be the subject of an advance ruling. 
9. Subject to paragraph 10, each Party shall a pply an advance ruling to importations into its 
territory of the relevant good from th e date of its issuance or from such later date as may be specified 
in the ruling.  
10. The importing Party shall apply the advance ruling for three (3) years from the date of 
issuance of the ruling. 
Article 5.9 
 
Denial Of Preferential Tariff Treatment
 
Except as otherwise provided in this Chapte r, each Party may, notwithstanding  the 
requirements of Articles 5.3, 5.4, 5.5, 5.6 and 5. 7 and any other legal requirements imposed under its 
law have been satisfied, deny the applicable pref erential tariff treatment to an originating good 
imported into its territory: 
 
(a) if the declared origin of the imported good is not supported by documentary evidence 
presented by an importer in its territory, or an exporter or a producer in the territory 
of the other Party; 
(b) if an exporter or a producer in the territory of the other Party does not allow the 
customs administration of the importing Party access to information required to make a determination of whether the goods or the materials is origina ting by the following 
or other means: 
(i) denial of access to its records and/or documents;  
(ii) failure to respond to a cost and production statement or information 
requested; or 
(iii) failure to maintain records or documenta tion relevant to determine the origin 
of the good in accordance with the requirement of this Chapter; 
(c) if, where the good is shipped through or tran sshipped in the territory of a country that 
is not a Party under this Agreement, the importer of the good does not provide, on the 
request of that Party's customs administration: 
(i) a copy of the customs control documents that indicate, to the satisfaction of 
the importing Party’s customs administration, that the goods remained under 
customs control while in the territory of such non-Parties; 
(ii) any other information given by the customs administration of such non-
Parties or other relevant entities, which evidences that they have not undergone, in such non-Parties, operati on other than unloading, reloading, 
crating, packing, repacking or any other operation necessary to keep them in 
good condition; or 
(iii) any other information or commercial doc uments given by the importer which 
evidence that they have not undergone, in such non-Parties, operation other  WT/REG210/1 
 Page 23 
 
 
than unloading, reloading, crating, p acking, repacking or any other operation 
necessary to keep them in good condition; or 
(d) if, within thirty (30) days after the request of the customs administration of the 
importing Party, the producer, exporter or  importer of a good, which has undergone 
processes of production or operation outside the territory of a Party, fails to submit all 
the necessary documentary evidence to prove that the good satisfies all the 
requirements set out in Article 4.4, including that has been obtained from the performer of the processes of production or  operation outside the territory of the 
Party.  Notwithstanding the above, the produ cer, exporter or importer of a good may 
have one opportunity to make a written requ est to the customs administration of the 
importing Party for an extension of the submission period, for a period not exceeding 
thirty (30) days. 
Article 5.10 
 
Temporary Admission And Goods In Transit
 
1. Each Party shall continue to facilitate the procedures for the temporary admission of goods 
traded between the Parties in accordance with the Customs Convention on the A.T.A. Carnet for the 
Temporary Admission of Goods.  
 2. Each Party shall continue to facilitate cust oms clearance of goods in transit from or to the 
territory of the other Party. 
 
Article 5.11 
 
Review And Appeal
 
1. Each Party shall grant substantially the same ri ghts of review and appeal of determinations of 
origin and advance rulings by its customs administra tion, as it provides to importers in its territory, to 
any person:  
(a) who has obtained a certificate of origin or completed a cost and production statement 
for a good that has been the subject of a determination of origin under this Chapter; or 
(b) who has received an advance ruling pursuant to Article 5.8. 
2. Each Party shall provide that the rights of re view and appeal referred to in paragraph 1 shall 
include access to: 
 
(a) at least one level of administrative review
5-1 independent of the official or office 
responsible for the determ ination under review; and 
(b) in accordance with its domestic law, judicial or quasi-judicial review of the 
determination or decision taken at th e final level of administrative review5-2. 
 
 
                                                      
5-1 For Singapore, the level of administrative review may include the Ministry supervising the Customs 
administration. 
5-2 The review of the determination or decision taken at the final level of administrative review in 
Singapore may take the form of a common law judicial review. WT/REG210/1 
Page 24  
 
  Article 5.12 
 
Penalties
 
 Each Party shall maintain measures imposing criminal or administrative penalties, whether 
solely or in combination, for violations of its  laws and regulations relating to this Chapter. 
 
Article 5.13 
 
Customs Co-Operation  
 The Parties shall co-operate through th eir respective customs administrations on: 
 
(a) Verification of Origin: 
(i) The Parties shall co-operate through their respective customs administrations 
in the origin verification process of a good, for which the customs administration of the importing Party may request the other Party’s customs administrations to co-operate in this process of verification in its own 
territory; and 
(ii) A Party may, if it considers necessary, station customs liaison officers in the 
local embassy to work with the host government, for information exchange pertaining to origin verification; 
(b) Paperless Customs Clearance: 
(i) The Parties shall, as they deem fit, simplify and streamline customs 
procedures through the domestic integra tion of customs systems with other 
controlling agencies, with a view to enhancing paperless customs clearance; 
(ii) The Parties shall endeavour to prov ide an electronic environment that 
supports business transactions be tween their respective customs 
administrations and their trading communities; and 
(iii) The Parties shall exchange views and information on realising and promoting 
paperless customs clearance between their respective customs administrations and their trading communities; 
(c) Risk Management: 
(i) The Parties shall adopt risk manageme nt approach in its customs activities 
based on its identified risk of goods in order to facilitate the clearance of low 
risk consignments, while focusing its inspection activities on high-risk goods; 
and 
(ii) The Parties shall exchange information on risk management techniques in the 
performance of their customs procedures; 
(d) Sharing of Best Practices and Information:  WT/REG210/1 
 Page 25 
 
 
(i) The Parties may, as they deem fit, organise training programmes in customs-
related issues, which should include tr aining for customs officials as well as 
users that directly participate in customs procedures; and 
(ii) The Parties may, as they deem fit, fa cilitate initiatives for the exchange of 
information on best practices in relation to customs procedures and matters in 
accordance with their respective domestic customs laws; and 
(e) Transparency: 
(i) Each Party shall ensure that its laws, regulations, guidelines, procedures, and 
administrative rulings governing customs matters are promptly published, either on the Internet or in print form; 
(ii) Each Party shall designate, establish, a nd maintain one or more inquiry points 
to address inquiries from interested persons pertaining to customs matters, and shall make available on the Internet information concerning procedures for making such inquiries; and 
(iii) For the purposes of certainty, nothing in this Article or in any part of this 
Agreement shall require any Party to  publish law enforcement procedures 
and internal operational guidelines incl uding those related to conducting risk 
analysis and targeting methodologies. 
Article 5.14  
 
Implementation Of Obligations
 
1. The provisions in this Chapter must be implem ented by the Parties by the time that this 
Agreement enters into force.  
2. Each Party must implement all its obligations th rough the institution of legal or administrative 
changes and where necessary amend its domestic laws to support the implementation of the 
obligations undertaken. 
Article 5.15 
 
Customs Contact Points And Ad Hoc Customs Committee  
1. Each Party shall discharge all its obligations  that are undertaken in  accordance with this 
Chapter. 
2. Each Party shall designate the contact point set out  in Annex 5D for all matters relating to this 
Chapter and Chapter 4 (Rules of Origin). 
3. Upon the receipt of any matter raised by the customs administration of a Party, the customs 
administration of the other Party shall assign its ow n experts to look into the matter and to respond 
with its findings and proposed solution for r esolving the matter within a reasonable time. 
4. The Parties shall endeavour to resolve an y matter raised under this Article through 
consultations between contact points. If the matter ca nnot be so resolved, the matter shall be referred 
to a customs committee established on an ad  hoc basis pursuant to Article 22.1. 
 WT/REG210/1 
Page 26  
 
  Article 5.16 
 
Confidentiality
 
1. Nothing in this Agreement sha ll be construed to require a Part y to furnish or allow access to 
confidential information, the disclosure of which wo uld impede law enforcement, be contrary to the 
public interest, or prejudice the legitimate commercia l interests of particular enterprises, public or 
private.   2. Each Party shall, in accordance with its domestic laws, maintain the confidentiality of 
information collected pursuant to this Chapter and protect it from disclosure that could prejudice the 
competitive position of the persons providing the information.  
Article 5.17 
 
Review
 
 The Parties shall review the certification syst em agreed under this Chapter for issuing the 
certificate of origin at the review as provided in Article 22.1.  
 
CHAPTER 6:  TRADE REMEDIES 
 
Article 6.1 
 
Definitions
 
For the purposes of this Chapter: 
 
 domestic industry means the producers as a whole of the like or directly competitive 
products operating within the territory of a Party, or those whose collective output of the like or directly competitive products constitute a major pr oportion of the total dome stic production of those 
products; 
 
 global safeguard measure means a measure applied under Article XIX of  GATT 1994 and 
the WTO Agreement on Safeguards;  
 serious injury means a significant overall impairment in  the position of a domestic industry; 
 
substantial cause means a cause which is important and not less than any other cause; and 
 
threat of serious injury means serious injury that, on the b asis of facts and not merely on 
allegation, conjecture or remote possibility, is clearly imminent. 
 
Article 6.2 
 
Anti-Dumping Measures
 
1.   The Parties maintain their rights and ob ligations under Article VI of GATT 1994 and the 
Agreement on Implementation of Article VI of  GATT 1994 (“WTO Agreement on Anti-dumping”). 
 2.  Anti-dumping actions taken pursuant to Ar ticles VI of GATT 1994 and the WTO Agreement 
on Anti-dumping shall not be subject to Chapter 20 (Dispute Settlement).  WT/REG210/1 
 Page 27 
 
 
3.  Notwithstanding paragraph 1, the Parties shall observe the following practices in anti-
dumping cases between them in order to enhance tr ansparency in the implementation of the WTO 
Anti-dumping Agreement:  
(a) when anti-dumping margins are established on the weighted average basis, all 
individual margins, whether positive or ne gative, should be counted toward the 
average; and 
(b) if a decision is taken to impose an anti-dum ping duty pursuant to Article 9.1 of the 
WTO Agreement on Anti-dumping, the Party taking such a decision, should apply the ‘lesser duty’ rule, by imposing a duty whic h is less than the dumping margin where 
such lesser duty would be adequate to rem ove the injury to the domestic industry. 
Article 6.3 
 
Countervailing Measures
 
1.   The Parties maintain their rights and ob ligations under Article VI of GATT 1994 and the 
WTO Agreement on Subsidies and Countervailing Measures. 
 2.  Countervailing measures taken pursuant to Article VI of GATT 1994 and the WTO 
Agreement on Subsidies and Countervailing Measures shall not be subject to Chapter 20 (Dispute 
Settlement). 
 
Article 6.4 
 
Bilateral Safeguard Measures 
 
1. Subject to paragraphs 2, 3, 4, 5, 6, 7 and 8, if, as a result of the reduction or elimination of a 
customs duty under this Agreement, an originating g ood of the other Party is being imported into the 
territory of a Party in such increased quantities, in  absolute terms or rela tive to domestic production, 
and under such conditions that the imports of such  originating good from the other Party constitute a 
substantial cause of serious injury or threat thereo f, to a domestic industry producing a like or directly 
competitive good, such Party may: 
(a) suspend further reduction of any rate of  customs duty provided for under this 
Agreement for such originating good; or 
(b) increase the rate of customs duty on  such originating good to a level not to exceed 
the lesser of: 
(i) the most-favoured-nation (“MFN”) applied rate of duty on the good in effect 
at the time the action is taken; and 
(ii) the MFN applied rate of duty on the good in effect on the day immediately 
preceding the date of entry into force of this Agreement.  
2. A Party shall take a measure only following an  investigation by that Party’s competent 
authorities in accordance with Article 3 and para graph 2 of Article 4 of the WTO Agreement on 
Safeguards. To this end, Article  3 and paragraph 2 of Article 4 of the WTO Agreement on Safeguards 
are incorporated into and made a part of this Agreement, mutatis mutandis . The investigation shall in 
all cases be completed within one year following its date of initiation. WT/REG210/1 
Page 28  
 
  3. A Party shall notify the other Party in writing up on initiation of an investigation provided for 
in paragraph 2 and shall consult w ith the other Party as far in advance of taking any such measure as 
practicable, with a view to reviewing the informa tion arising from the investigation, exchanging views 
on the measure and reaching an agreement on compensation as set out in paragraph 8. If a Party takes a provisional measure pursuant to paragraph 7, the Party shall also notify the other Party prior to 
taking such measure, and shall in itiate consultations with the other Party immediately after such 
measure is taken. 
4. No measure may be maintained: 
(a) except to the extent and for such period  of time as may be necessary to prevent or 
remedy serious injury and to facilitate adjustment; or 
(b) for a period exceeding two (2) years; except that the period may be extended by up to 
two (2) years if the competent authorities determine, in conformity with the procedures set out in paragraphs 1 through 3, that the measure continues to be necessary to prevent or remedy serious inju ry and to facilitate adjustment and that 
there is evidence that the industry is adjusting. 
5. Where the expected duration of the measure is over one year, the Party applying such 
measure shall progressively liberalise it at regular intervals during the period of application. 
6. Upon the termination of the measure, the rate of customs duty shall be the rate which would 
have been in effect but for the measure. 
7. In critical circumstances, where delay would cause damage which would be difficult to repair, 
a Party may take a measure described in paragra ph 1 on a provisional basis pursuant to a preliminary 
determination that there is clear evidence that imports from the other Party have increased as the 
result of the reduction or elimination of a customs duty under this Agreement, and such imports constitute a substantial cause of serious injury, or threat thereof, to the domestic industry.  The 
duration of such provisional measure shall not ex ceed 200 days, during which time the requirements 
of paragraph 2 shall be met.  Any tariff increases shall be promptly refunded if the investigation 
provided for in paragraph 2 does not result in a findi ng that the requirements of paragraph 1 are met.  
The duration of any provisional measure shall be  counted as part of the period described in 
paragraph 4. 
8. The Party applying a measure described in pa ragraph 1 shall provide to the other Party 
mutually agreed trade liberalising compensation in the form of concessions having substantially 
equivalent trade effects or equivalent to the valu e of the additional duties expected to result from the 
measure. If the Parties are unable to agree on co mpensation within thirty (30) days in the 
consultations under paragraph 3, th e Party against whose originating good the measure is applied may 
take action with respect to originating goods of th e other Party that has trade effects substantially 
equivalent to the measure.  The Party taking such action shall apply the action only for the minimum period necessary to achieve the substantially equivale nt effects, and in any event, only while the 
measure under paragraph 1 is being applied. 
Article 6.5  
 
Global Safeguard Measures
 
1.   The Parties maintain their rights and obligations under Article XIX of GATT 1994 and the 
WTO Agreement on Safeguards. 
  WT/REG210/1 
 Page 29 
 
 
2.   Actions taken pursuant to paragraph 1 of this Article shall not be subject to Chapter 20 
(Dispute Settlement).  
 
CHAPTER
 7:  SANITARY  AND  PHYTOSANITARY  MEASURES 
 
Article 7.1 
 
Sanitary And Phytosanitary Measures  
 
1. The Parties shall not apply their sanitary and phytosanitary measures in a manner which 
would constitute a means of arbitrary or unjustifia ble discrimination or a disguised restriction on 
international trade.  
2. The Parties shall ensure that any sanitary a nd phytosanitary measure is applied only to the 
extent necessary to protect human, animal or plant lif e or health, is based on scientific principles and 
is not maintained without sufficient scientific evidence.  3.  The principles set out in paragraphs 1 a nd 2 shall be applied in accordance with the WTO 
Agreement on the Application of Sanitary and Phyt osanitary Measures which is hereby incorporated 
into and made part of this Agreement.  4. To provide a means of consultation and exch ange of information between the Parties on 
sanitary and phytosanitary matters and enable the response to queries from one Party to the other 
within a reasonable time, the Parties shall main tain and communicate through the following contact 
points
7-1: 
 
(a) for Korea, the Ministry of Agriculture and Forestry; and 
(b) for Singapore, Agri-Food and Veterinary Authority.   
 
 
CHAPTER 8:  TECHNICAL BARRIERS TO TRADE AND MUTUAL RECOGNITION 
 
Article 8.1 
 
Objective  
  The objectives of this Chapter are to increase a nd facilitate trade between the Parties through: 
 
(a) the full implementation of the WTO Agreement on Technical Barriers to Trade 
("WTO TBT Agreement”); 
(b) enhancing bilateral co-operation by deep ening their mutual understanding and 
awareness of their respective standards, technical regulations and conformity assessment systems; and 
(c) creating and improving  the business climate so as to increase business opportunities. 
                                                     
 
7-1 The communications and essential information exchanged between the Parties shall be in the 
English language. Particulars relating to the contact points  shall be exchanged at the earliest possible, after the 
entry into force of this Agreement. The Parties unders tand that the communications between the Parties can be 
made via fax, e-mail or any other means agreed to by the Parties. WT/REG210/1 
Page 30  
 
  Article 8.2 
 
Scope And Modalities
 
1. This Chapter applies to standards, t echnical regulations and conformity assessment 
procedures that may directly or indirectly affect trade in goods between the Parties and/or assessments 
of manufacturers or manufacturing processes. 
 2. The Parties shall intensify their joint work in the field of standards, technical regulations, and 
conformity assessment procedures and/or assessments of manufacturers or manufacturing processes, with a view to facilitating market access. In particul ar, the Parties shall seek to identify initiatives that 
are appropriate for particular issues or sector s. Such initiatives may include co-operation on 
regulatory issues, such as, alignment to internati onal standards, reliance on supplier’s declaration of 
conformity, and use of accreditations to qualify conformity assessment bodies.  3. In this respect, the Parties recognise that a br oad range of mechanisms exists to facilitate the 
acceptance of conformity assessment results, including: 
 
(a) agreements on mutual acceptance of the results of conformity assessment procedures 
with respect to specified regulations conducted by bodies located in the territory of the other Party; 
(b) accreditation procedures for qualifying conformity assessment bodies; 
(c) government designation of conformity assessment bodies;   
(d) recognition by a Party of the results of c onformity assessments performed in the other 
Party’s territory; 
(e) voluntary arrangements between conformity assessment bodies from each Party’s 
territory; and 
(f) the importing Party’s acceptance of a supplier’s declaration of conformity. 
 To this end, the Parties shall intensify th eir exchanges of information on the variety of 
mechanisms to facilitate the ac ceptance of conformity assessment results.  Any such arrangements 
shall be formalised in a Sectoral Annex, as appropriate.  
4. In accordance with Article 2.4 of the WTO TBT Agreement, where technical regulations are 
required and relevant inte rnational standards exist or their completion is imminent, the Parties shall 
use them, or the relevant parts of such standards,  as a basis for their Mandatory Requirements, except 
when such international standards or relevant part s of such standards would be an ineffective or 
inappropriate means for the legitimate objectives pur sued, for instance, as a result of fundamental 
climatic or geographical factors or fundamental technological problems.   
 
5. In determining whether an international standard, guide, or recommendation within the 
meaning of Articles 2 and 5, and Annex 3 of the WTO TBT Agreement exists, each Party shall apply 
the principles set out in “Section IX  (Decision of the Committee on Principles for the Development of 
International Standards, Guides and Recommendations with relation to Article s 2 and 5, and Annex 3 
of the Agreement) in the  Decisions and Recommendations adopted by the Committee since 1 January 
1995”, G/TBT/1/Rev.8, 23 May 2002  and its Revision  issued by the WTO Committee on Technical 
Barriers to Trade.    WT/REG210/1 
 Page 31 
 
 
6. This Chapter does not apply to sanitary and phytosanitary measures as defined in the WTO 
Agreement on Application of Sanitary and Phyto sanitary Measures which are covered by Chapter 7 
(Sanitary and Phytosanitary Measures).  
Article 8.3 
 
Definitions
 
1. For the purposes of this Chapter, all genera l terms concerning standards, and conformity 
assessment used in this Chapter shall have the meaning given in the definitions contained in the 
International Organisation for Standardisation/In ternational Electrotechnical Commission (ISO/IEC) 
Guide 2:2004 "Standardization a nd related activities – General vo cabulary” and ISO/IEC 17000:2004  
“Conformity assessment – Vocabulary and general principles” published by the ISO and IEC, unless 
the context otherwise requires and as appropriate.  2 In addition, the following terms and definitions shall apply to this Chapter and its Sectoral 
Annexes unless a more specific meaning is given in the specified Sectoral Annex: 
 
accept  means the use of the results of conf ormity assessment procedures as a basis for 
regulatory actions such as approvals, licences, re gistrations and post-market assessments of 
conformity assessment; 
 
acceptance  has an equivalent meaning to accept ; 
 
certification body  means a body, including product or quality systems certification bodies, 
that may be designated by a Party in accordance  with this Chapter to conduct certification on 
compliance with its or the other Party’s standards and/or specifications to meet relevant mandatory 
requirements; 
 
confirmation  means the confirmation of the complian ce of the manufacturing or test facility 
with the criteria for confirmation by a competent authority of a Party pursuant to the mandatory 
requirements of the other Party; 
 
competent authority  means an authority of a Party with the power to conduct inspection or 
audits on facilities in its territory to confir m their compliance with mandatory requirements;   
 conformity assessment  means any procedure concerned with determining  directly or 
indirectly whether products, manufacturers or manu facturing processes fulfil relevant  standards 
and/or specifications to meet relevant mandatory  requirements set out in the respective Party’s 
mandatory requirements.  The typical examples of conformity assessment procedures are sampling, testing, inspection, evaluation, verification, certif ication, registration, accreditation and approval, or 
their combinations; 
 
conformity assessment body (“CAB”)  means a body that conducts conformity assessment 
procedures; 
 
designation  means the authorisation by a Party’s designating authority of its CAB to 
undertake specified conformity assessment procedures pursuant to the mandatory requirements of the 
other Party;  
 
designate  has an equivalent meaning to “designation”; 
 
Designating Authority  means a body established in the territory of a Party with the authority 
to designate, monitor, suspend or withdraw de signation of conformity assessment bodies to conduct WT/REG210/1 
Page 32  
 
  conformity assessment procedures within its juri sdiction in accordance with the other Party’s 
mandatory requirements ;  
 
mandatory requirements  means a Party’s applicable laws, regulations and administrative 
provisions;  
 mutual recognition  means that each Party, on the b asis that it is accorded reciprocal 
treatment by the other Party:  
(a) accepts the test reports of conformity assessment procedures of the other Party to 
demonstrate conformity of products and/ or manufacturers/manufacturing processes 
with its mandatory requirements when the conformity assessment procedures are undertaken by conformity assessment bodies designated by the other Party in accordance with this Chapter, i.e., mutual recognition of test reports; or 
(b) accepts the certification of results of conformity assessment procedures of the other 
Party to demonstrate conformity of pr oducts and/or manufacturers/manufacturing 
processes with its mandatory requirements when the conformity assessment procedures are undertaken by conformity assessment bodies designated by the other Party in accordance with this Chapter, i. e., mutual recognition of certification of 
conformity assessment;   
registered conformity assessm ent body (“registered CAB”)  means a CAB registered 
pursuant to Article 8.5; 
 
registration  means the authorisation by a Party’s Designating Authority of a CAB proposed 
by the other Party to undertake specified conform ity assessment procedures pursuant to the Party’s 
mandatory requirements;  
 
Regulatory Authority  means an entity that exercises a le gal right to determine the mandatory 
requirements, control the import, use or supply of products within a Party’s territory and may take 
enforcement action to ensure that products marketed  within its territory comply with that Party’s 
mandatory requirements including assessments of manufacturers/manufacturing processes of products; 
 
Sectoral Annex  is an Annex to this Chapter which specifies the implementation 
arrangements in respect of a specific product sector; 
 stipulated requirements  means the criteria set out in a Sectoral Annex for the designation of 
CAB;  
 
technical regulations  shall have the same meaning as in the WTO TBT Agreement; 
 test facility  means a facility, including independent  laboratories, manufacturers’ own test 
facilities or government testing bodies, that may be  designated by one Party’s Designating Authority 
in accordance with this Chapte r to undertake tests according to the other Party’s mandatory 
requirements; and 
 
verification  means an action to verify in the territori es of the Parties, by such means as audits 
or inspections, compliance with the stipulated requirements for designation or criteria for 
confirmation by a conformity assessment body or a manufacturing or test facility respectively.   
   WT/REG210/1 
 Page 33 
 
 
3. For the purposes of this Chapter the singular sh ould be read to include the plural and vice-
versa, when appropriate.   
Article 8.4 
 
Origin
 
This Chapter applies to all products and/ or assessments of manufacturers or manufacturing 
processes of products traded between the Parties, regardless of the origin of those products, unless 
otherwise specified in a Sectoral Annex, or unl ess otherwise specified by any mandatory requirement 
of a Party. 
 
Article 8.5 
 
Mutual Recognition Of Conformity Assessment  
Scope 
 
1. This Article shall apply to: 
 
(a) mandatory requirements and/or assessments of manufacturers or manufacturing 
processes, maintained by the Parties to fulfill their legitimate objectives and 
appropriate level of protection; and 
(b) the conformity assessment bodies and conform ity assessment procedures for products 
as may be specified in the Sectoral Annexes. 
2. For the purposes of this Article , a Sectoral Annex shall include  inter alia : 
 
(a) provisions on scope and coverage; 
(b) applicable laws, regulations and admi nistrative provisions, i.e., mandatory 
requirements of each Party con cerning the scope and coverage; 
(c) applicable laws, regulations and administra tive provisions of each Party stipulating 
the requirements covered by this Article, all the conformity assessment procedures 
covered by this Article to satisfy such re quirements and the stipulated requirements or 
criteria for designation of conformity assessment bodies or the confirmation of the manufacturing or test facilities covered by this Article; and 
(d) the list of Designating Authorities or competent authorities. 
Obligations  
 
3. Each Party shall accept, in accordance with the provisions of this Article, the results of 
conformity assessment procedures required by the ma ndatory requirements of that Party specified in 
the relevant Sectoral Annex, including certificates and marks of conformity, that are conducted by the 
registered CABs of the other Party.  
4. Korea shall accept the results of conformity  assessment procedures to demonstrate conformity 
of products with its mandatory requirements  when the conformity assessment procedures are 
undertaken by CABs designated by Singapore’s De signating Authority and registered by Korea’s 
Designating Authority in accordance with this Article.  WT/REG210/1 
Page 34  
 
  5. Singapore shall accept the results of confor mity assessment procedures to demonstrate 
conformity of products with its mandatory require ments when the conformity assessment procedures 
are undertaken by CABs designated by Korea’s Desi gnating Authority and registered by Singapore’s 
Designating Authority in accordance with this Article.   Designating Authorities  
6. For the purposes of this  Article, each Party shall: 
 
(a) unless otherwise provided in the relevant Sectoral Annex, designate a single 
Designating Authority to designate CA Bs to conduct conformity assessment 
procedures for products traded between th e Parties, whether imports or exports; 
(b) then notify the other Party of such designation and any subsequent changes thereof; 
(c) notify the other Party of any scheduled ch anges concerning its Designating Authority; 
and 
(d) ensure that its Designating Authority:  
(i) has the necessary power to designate, monitor (including verification), 
withdraw the designation of, suspend the designation of, and lift  the suspension of the designation of, the CABs that conduct conformity assessment procedures within its terri tory based upon the requirements set 
out in the other Party’s mandatory requirements as specified in the relevant 
Sectoral Annex; and 
(ii) consults, as necessary, with the relevant  counterpart in the other Party to 
ensure the maintenance of confidence in conformity assessment procedures 
including processes.  The consultations  may include joint participation in 
audits related to conformity assessment procedures or other assessments of 
registered CABs, where such participa tion is appropriate, technically possible 
and within reasonable cost. 
Registration of CABs 
 
7. The following procedures shall apply to the registration of a CAB:  
(a) each Party shall make a proposal that a CAB of that Party designated by its 
Designating Authority be registered under th is Article, by presenting its proposal in 
writing, supported by the necessary documents,  to the other Party  and the TBT Joint 
Committee established in accordance with Article 8.7 (“TBT Joint Committee”);  
(b) the other Party shall consider whether the proposed CAB complies with the stipulated 
and mandatory requirements specified in  the relevant Sectoral Annex and 
communicate, to the Party making the proposal and the TBT Joint Committee in writing, the other Party’s position regarding the registration of that CAB along with estimated date of registration within ninety (90) days from the date of receipt of the 
proposal referred to in paragraph (a).  In such consideration, such other Party should 
assume that the proposed CAB complies with the aforementioned criteria.  The TBT 
Joint Committee shall, within ninety (90) da ys from the date of receipt of the position 
of such other Party, decide whether to register the proposed CAB.  Following the TBT Joint Committee’s decision, a  Party’ s Designating Authority shall inform the  WT/REG210/1 
 Page 35 
 
 
other Party about the date of registration of  the proposed CAB within seven (7) days 
from the date of receipt of the TBT Joint Committee’s decision; and  
(c) In the event that the TBT Joint Committee cannot decide to register the proposed 
CAB, the TBT Joint Committee may decide to conduct joint verification with or request the proposing Party to conduct a verification of the proposed CAB with the 
prior consent of the CAB. After the comple tion of such verification, the TBT Joint 
Committee may reconsider the proposal.  
8. The proposing Party shall provide the following information in its proposal for registration of 
a CAB and keep such information up-to-date:  
(a) the name and address of the CAB;   
(b) the products or processes the CAB is designated to assess;  
(c) the conformity assessment procedures the CAB is designated to conduct; and  
(d) the designation procedure and necessary information used to determine the 
compliance of the CAB with the stipul ated requirements for designation. 
9. Each Party shall ensure that its Designati ng Authority withdraws the designation of its CAB 
registered by the Designating Authority of the other Party when its Party’s Designating Authority considers that the CAB no longer complies with th e stipulated and mandatory requirements of the 
other Party set out in the relevant Sectoral Annex.  The withdrawal of the designation shall be notified 
in writing to the other Party and the TBT Joint Comm ittee. Each Party shall terminate the registration 
of a CAB when the Designating Authority of the ot her  Party withdraws the designation of its CAB.  
The date of termination of regist ration of the CAB shall be the date  of receipt of notification for 
withdrawal from the other Party.  10. Each Party shall propose the termination of  the registration of its CAB when that Party 
considers that the CAB no longer complies with  the stipulated requirements and mandatory 
requirements of that Party specified in the releva nt Sectoral Annex.  Proposal for terminating the 
registration of that CAB shall be made to the TB T Joint Committee and the other Party in writing.  
The registration of that CAB shall be terminated upon receipt by the Parties of the decision of the 
TBT Joint Committee.  11. In the case of a registration of a new CAB,  the other Party shall accept the results of 
conformity assessment procedures conducted by that CAB from the date of the registration.  In the 
event that the registration of a CAB is terminat ed, the other Party shall accept the results of the 
conformity assessment procedures conducted by that CA B prior to the termination, without prejudice 
to paragraphs 18 and 19.   12.  Each Party shall notify the other Party of  any scheduled changes concerning its designated 
CABs.  
 13. The Parties shall notify the general public of the registration of CABs, on a sector-by-sector 
basis.   Verification and Monitoring of Conformity Assessment Bodies  
14. Each Party shall ensure th at its Designating Authority: 
 WT/REG210/1 
Page 36  
 
  (a) shall undertake through appropriate means su ch as audits, inspections or monitoring, 
that the registered CABs designated by the Party  fulfill the stipulated and mandatory requirements set out in the Sectoral Annex.  When applying the stipulated requirements for designation of the CABs, the Designating Authority of a Party should take into account the bodies’ understa nding of and experience relevant to the 
mandatory requirements of the other Party;  
(b) shall monitor and verify that the registered  CABs designated by a Party  maintain the 
necessary technical competence to demonstrat e the conformity of a product with the 
standards, and/or specifications to meet  the mandatory requirements of the other 
Party. This may include participation in appropriate proficienc y-testing programmes 
and other comparative reviews such as mutual recognition agreements between non-
governmental entities, so that confidence in  their technical competence to undertake 
the required conformity assessment is maintained; and 
(c) shall exchange information concerning th e procedures such as accreditation systems 
used to designate CABs and to  ensure that the registered CABs designated by a Party 
are technically competent and comply with the relevant stipulated requirements. 
15. When in doubt, a Party may request other designating Party in writing whether or not a 
registered CAB complies with the stipulated require ments for that Party’s designation as set out in the 
mandatory requirements in the Sectoral Annex and/ or request for a verification of the CAB to be 
conducted in accordance with that Party’s mandatory requirements.  
16. A Party may, with the prior consent of the othe r Party, participate at its own expense, in the 
verification process of the CAB conducted by the D esignating Authority of the other Party, provided 
that there is prior consent of such CABs, in orde r to maintain a continuing understanding of that other 
Party’s procedures for verification. 
 17. Each Party shall encourage its registered CA Bs to co-operate with the CABs of the other 
Party. 
 
Suspension and Lifting the Suspension of D esignation of Conformity Assessment Bodies 
 
18. In case of suspension of the designation of a registered CAB, the Party, shall immediately 
notify the other Party and the TBT Joint Committee of  the suspension.  The registration of that CAB 
shall be suspended from the date of receipt of th e decision of the TBT Joint Committee.  The other 
Party shall accept the results of the conformity asse ssment procedures conducted by that CAB prior to 
the suspension of the designation.  
19. In the case of lifting of suspension of the d esignation of a registered CAB, the Party shall 
immediately notify the other Party and the TBT Jo int Committee of the lifting of suspension.  The 
lifting of suspension of the registration of that CAB shall be effective from the date of the receipt of 
the decision of the TBT Joint Committee.  The othe r Party shall accept the results of the conformity 
assessment procedures conducted by that CAB from the date of lifting of the suspension of the 
registration.  
 
Challenge 
 
20. Each Party shall have the right to challe nge a registered CAB’s technical competence and 
compliance with the relevant stipulated requirements specified in the Sectoral Annex. This right shall 
be exercised only in exceptional circumstances and wh en supported by relevant expert analysis and/or  WT/REG210/1 
 Page 37 
 
 
evidence. A Party shall exercise this right by no tifying the other Party and the TBT Joint Committee 
in writing.   21. Except in urgent circumstances, the Party shall, prior to a challenge exercised under 
paragraph 20, enter into consulta tions with the other Party with a view to seeking a mutually 
satisfactory solution.  In urgent circumstances, c onsultations shall take place immediately after the 
right to challenge has been exercised.  In all cases,  consultations shall be conducted with a view to 
resolving all issues and seeking a mutually satisfact ory solution within twenty (20) days or as 
specified in the relevant Sectoral Annex. If this  is not achieved, the TBT Joint Committee shall be 
convened to resolve the matter.   
 
22. Unless the TBT Joint Committee decides otherw ise, the registration of the challenged CAB 
shall be suspended by the relevant Designating Au thority for the relevant scope of designation from 
the date when its technical competence or compliance is challenged, until either: 
 
(a) the challenging Party is satisfied as to the co mpetence and compliance of the CAB; or  
(b) the designation of that CAB has been withdrawn. 
23. The Sectoral Annex may provide for additi onal procedures such as verification and time 
limits to be followed in relation to a challenge . This may involve the TBT Joint Committee being 
activated.  Where the TBT Joint Committee decides to conduct a jo int verification, it shall be 
conducted in a timely manner by the Parties with th e participation of the Designating Authority that 
designated the challenged CAB and with the prior c onsent of the CAB.  The result of such joint 
verification shall be discussed in the TBT Joint Comm ittee with a view to resolving the issue within 
twenty (20) days or the time limit specified in the Sectoral Annex.  
 
24. The results of conformity assessment pr ocedures undertaken by a challenged CAB on or 
before the date of its suspension or withdrawal shall remain valid for acceptance for the purposes of 
paragraphs 4 and 5. 
 
Article 8.6 
 
Confidentiality
 
1. A Party shall not be required to disclose c onfidential proprietary information to the other 
Party except where such disclosure would be n ecessary for the other Party to demonstrate the 
technical competence of its designated CAB and confor mity with the relevant stipulated requirements. 
 
2. A Party shall, in accordance with its a pplicable laws and regulations, protect the 
confidentiality of any proprietary information di sclosed to it in connection with conformity 
assessment procedures and/or designation activities. 
 
3. Nothing in this Chapter shall be construed to require either Party to furnish or allow access to 
information the disclosure of which it considers would: 
 
(a) be contrary to its essential security interests; 
(b) be contrary to the public interest as dete rmined by its domestic laws, regulations and 
administrative provisions; 
(c) be contrary to any of its domestic laws , regulations and administrative provisions 
including but not limited to those protecti ng personal privacy or the financial affairs 
and accounts of individual custom ers of financial institutions; WT/REG210/1 
Page 38  
 
  (d) impede law enforcement; or  
(e) prejudice legitimate commercial interests of particular public or private enterprises. 
Article 8.7 
 
TBT Joint Committee
 
1. A TBT Joint Committee shall be established on the date of entry into force of this Agreement 
and it shall be responsible for the eff ective implementation of this Chapter. 
 
2. The TBT Joint Committee shall be led by co-c hairs from both Parties. The co-chairs shall be 
the initial contact point for the exchange of informat ion.  For this purpose, the Parties shall, through 
the co-chairs:  
 
(a) broaden their exchange of information; 
(b) notify any change in thei r mandatory requirements in accordance with their WTO 
obligations; and  
(c) give favourable consideration to any writte n request for consultation.  Each Party 
shall respond to a written request for info rmation from the other Party in print or 
electronically without undue delay, and in any case within fifteen (15) days from the 
date of the request, at no cost or at reasonable cost. 
3. The TBT Joint Committee shall compri se representatives from both Parties.  
 
4. The TBT Joint Committee shall make decisi ons and adopt recommendations by consensus. 
The TBT Joint Committee shall meet, under the co-cha irmanship of both Parties, when necessary to 
discharge its function, including upon the request of either Party.  5. The TBT Joint Committee shall: 
 
(a) be responsible for administering and fac ilitating the effective functioning of this 
Chapter and applicable Sectoral Annex(es), including: 
(i) facilitating the extension of this Chapter, such as the addition of new Sectoral 
Annexes or an increase in the scope of existing Sectoral Annexes; 
(ii) resolving any questions or disputes relating to the interpretation or 
application of this Chapter and applicable Sectoral Annex(es);  
(iii) deciding on the registration of a CAB, suspension of registration of a CAB, 
lifting of suspension of registration of a CAB, and termination of registration 
of a CAB with reference to Article 8.5;  
(iv) maintaining, unless the TBT Joint Comm ittee decides otherwise, a list of 
registered CABs on a sector- by- sector basis;  
(v) establishing appropriate modalities of in formation exchange referred to in 
this Chapter;  WT/REG210/1 
 Page 39 
 
 
(vi) appointing experts from each Party for joint verification referred to in 
paragraph 16 of Article 8.5;  
(vii) discharging such other functions as provided for in this Chapter; and 
(viii) where appropriate, develop a work programme and mechanisms for co-
operation in the areas of technical issues of mutual interest; and  
(b) determine its own operational procedures.  
6. In case a problem is not resolved through the TBT Joint Committee, the Parties shall have 
final recourse to dispute settlement under Chapter 20 (Dispute Settlement).   7. The TBT Joint Committee may, where nece ssary, establish ad hoc groups to undertake 
specific tasks relating to this Chapter. 
 8. Any decision made by the TBT Joint Committee shall be notified promptly in writing to each 
Party.  
9. Each Party shall, as applicable, bring into effect the relevant decisions of the TBT Joint 
Committee.  
Article 8.8 
 
Preservation Of Regulatory Authority 
 
1. Each Party retains all authority under its laws to interpret and implement its mandatory 
requirements.  2. This Chapter shall not:  
(a) prevent a Party from adopting or maintaini ng, in accordance with its international 
rights and obligations, mandatory requiremen ts, as appropriate to its particular 
national circumstances;  
(b) prevent a Party from adopting mandatory requirements to determine the level of 
protection it considers necessary to ensure  the quality of its imports, or for the 
protection of human, animal or plant life or health, or the environment, or for the 
prevention of deceptive practices or to fulf il other legitimate objectives, at the levels 
it considers appropriate; 
(c) limit the authority of a Party to take all appropriate measures whenever it ascertains 
that products may not conform to its mandatory requirements. Such measures may include withdrawing the products from the ma rket, prohibiting their placement on the 
market, restricting their free movement, initiating a product recall, initiating legal 
proceedings or otherwise preventing the recurrence of such problems including through a prohibition on imports.  If a Party takes such measures, it shall notify the 
other Party and the TBT Joint Committee, w ithin fifteen (15) days of taking the 
measures, giving its reasons; 
(d) oblige a Party to accept the standards or technical regulations or mandatory 
requirements of the other Party; WT/REG210/1 
Page 40  
 
  (e) entail an obligation upon a Party to accept the results of the conformity assessment 
procedures and/or assessment of manufacturers or manufacturing processes of products and their mandatory requirements of any third country save where there is an expressed agreement between the Parties to do so; and 
(f) be construed so as to affect the rights and obligations of either Party as a member of 
the WTO TBT Agreement.  
Article 8.9 
 
Territorial Application
 
 This Chapter shall apply to the territory of  Korea and to the territory of  Singapore. 
 
Article 8.10 
 
Language  
1. Written communication between the Parties including between the TBT Joint Committee’s 
co-chairs shall be in English. 
 2. A Party shall make every endeavour to pr ovide, in English and in a timely manner, 
information on mandatory requirements and other in formation or documents such as certificates, 
documentary evidence etc., necessary for the impl ementation of this Chapter and its Sectoral 
Annex(es).  3. The TBT Joint Committee meetings  shall be conducted in English.  
 
4. The decisions and records of the TBT Join t Committee shall be drawn up in English. 
 
Article 8.11 
 
Sectoral Annexes
 
1. The Parties shall conclude, as appropriate,  Sectoral Annexes which shall provide the 
implementing arrangements for this Chapter. 
 
2. The Parties shall: 
 
(a) specify and communicate to each other the applicable articles or annexes contained in 
the mandatory requirements set out in the Sectoral Annexes; 
(b) exchange information concerning the impl ementation of the mandatory requirements 
specified in the Sectoral Annexes; 
(c) notify each other of any scheduled changes in its mandatory requirements whenever 
they are made; and 
(d) notify each other of any scheduled chang es concerning their Designating Authorities 
and the registered CABs.  WT/REG210/1 
 Page 41 
 
 
3. A Sectoral Annex shall enter into force on the first day of the second month following the date on which the Parties have exchange notes confirming the completion of their respective 
(domestic legal) procedures for the entry into force of that Sectoral Annex.  4. A Party may terminate a Sectoral Annex in its entirety by giving the other Party six (6) 
months’ advance notice in writing unless otherwise stat ed in the relevant Sectoral Annex. However, a 
Party shall continue to accept the results of conf ormity assessment for the duration of the six-month 
notice period.  5. Where urgent problems of safety, health, c onsumer or environment protection or national 
security arise or threaten to arise for a Party, th at Party may suspend the operation of any Sectoral 
Annex, in whole or in part, immediately.  In su ch a case, the Party shall immediately advise the other 
Party of the nature of the urgent problem, the pr oducts covered and the objective and rationale of the 
suspension.   
6. If a Party introduces new or additional c onformity assessment procedures with the same 
product coverage to satisfy the re quirements set out in the mandatory  requirements specified in the 
Sectoral Annex, the Sectoral Annex shall be amende d to set out the applicable laws, regulations and 
administrative provisions stipulating such new or additional conformity  assessment procedures. 
 7. In case of conflict between the provisions of  a Sectoral Annex and this Chapter, the 
provisions of the Sectoral Annex shall prevail. 
 
 
CHAPTER 9:  CROSS-BORDER TRADE IN SERVICES 
 
Article 9.1 
 
Definitions
 
 For the purposes of this Chapter:  
 
 cross-border provision of services  or cross-border trade in services  means the provision of 
a service:  
 
(a) from the territory of a Party into the territory of the other Party; 
(b) in the territory of a Party by a person of that  Party to a person of the other Party; or  
(c) by a national of a Party in the territory of the other Party; 
but does not include the provision of a service in th e territory of a Party by an investment as defined 
in Article 10.1;  
financial services  is as defined in Chapter 12 (Financial Services);  
 
professional services means services, the provision of which requires specialised post-
secondary education, or equivalent training or e xperience, and for which the right to practice is 
granted or restricted by a Party, but does not incl ude services provided by trades-persons or vessel and 
aircraft crew members; and 
 WT/REG210/1 
Page 42  
 
  service provider of a Party means a person of a Party that seeks to provide or provides a 
service
9-1. 
 
Article 9.2 
 
Scope And Coverage  
1. This Chapter applies to measures adopted or  maintained by a Party affecting cross-border 
trade in services by service providers of the othe r Party, including measures with respect to:  
 
(a) the production, distribution, marketing, sale and delivery of a service;  
(b) the purchase or use of, or payment for, a service;  
(c) the access to and use of distribution and tran sportation systems in connection with the 
provision of a service;  
(d) the presence in its territory of a service provider of the other Party; and  
(e) the provision of a bond or other form of financial security as a condition for the 
provision of a service. 
2. For the purposes of this Chapter, measures a dopted or maintained by a Party mean measures 
adopted or maintained by central, or local gove rnments and authorities or by non-governmental 
bodies in the exercise of any regulatory, administrati ve or other governmental authority delegated by 
central, or local governments and authorities. 
 
3. This Chapter does not apply to:  
 
(a) measures adopted or maintained by a Party to the extent that they are covered by 
Chapter 12 (Financial Services) unl ess specified otherwise therein; 
(b) government procurement  which shall be governed by Chapter 16 (Government 
Procurement); 
(c) subsidies or grants, including government -supported loans, guarantees and insurance; 
or to any conditions attached to the receipt or continued receipt of such subsidies or 
grants, whether or not such subsidies or grants are offered exclusively to domestic 
services, service consumers or service suppliers;   
(d) services provided in the exercise of governmen tal authority (such as law enforcement, 
correctional services, income security or in surance, social security or insurance, 
social welfare, public education, public trai ning, health, and child care), provided that 
such services are supplied neither on a comme rcial basis, nor in competition with one 
or more service providers; and 
  
                                                     
 
9-1 The Parties understand that “s eeks to provide or provides a se rvice” has the same meaning as 
supplies a service as used in GATS Article XXVIII(g).  WT/REG210/1 
 Page 43 
 
 
(e) transportation and non-transportation air services, including domestic and 
international services, whether scheduled or non-scheduled, and related services in 
support of air services9-2, other than: 
(i) aircraft repair and maintenance services, 
(ii) the selling and marketing of air transport services; and 
(iii) computerised reservation system services. 
4. Nothing in this Chapter sha ll be construed to impose any obligation on a Party with respect to 
a national of the other Party seeking access to its employment market, or employed on a permanent basis in its territory, or to confer any right on that  national with respect to such access or employment.  
 
5. Article 9.11 shall also apply to measures by a Party affecting the supply of a service in its 
territory by investors of the other Party or investments of investors of the other Party as defined in Article 10.1
9-3. 
 
Article 9.3 
 
National Treatment  
1. Each Party shall accord to services and service providers of the other Party treatment no less 
favourable than that it accords, in like circumst ances, to its own services and service providers.  
 2. The treatment to be accorded to a Party unde r paragraph 1 means, with respect to measures 
adopted or maintained by a local government, treat ment no less favourable than the most favourable 
treatment accorded, in like circum stances, by that local government to service providers of the Party 
of which it forms a part, including itself.  
Article 9.4 
 
Local Presence
 
 Neither Party shall  require a service provider of the othe r Party to establish or maintain a 
representative office or any form of enterprise, or  to be resident, in its territory as a condition for the 
cross-border provision of a service.  
 
Article 9.5 
 
Market Access  
Neither Party shall adopt or maintain, either on the basis of a regional subdivision or on the 
basis of its entire territory, measures that: 
 
(a) limit: 
                                                      
9-2 The Parties understand that ground handling services  are part of related services in support of air 
services. 
9-3 The Parties understand that nothing in this Chapter, including this paragraph, is subject to investor-
state dispute settlement pursuant to Section C of Chapter 10 (Investment). WT/REG210/1 
Page 44  
 
  (i) the number of service suppliers whether in the form of numerical quotas, 
monopolies, exclusive service suppliers or the requirement of an economic needs test; 
(ii) the total value of service transactions or assets in the form of numerical 
quotas or the requirement of an economic needs test; 
(iii) the total number of service operations or the total quantity of services output 
expressed in terms of designated numerical units in the form of quotas or the requirement of an economic needs test; 
9-4 
(iv) the total number of natural persons that  may be employed in a particular 
service sector or that a service supplier may employ and who are necessary 
for, and directly related to, the supply of a specific service in the form of 
numerical quotas or the requirement of an economic needs test; and 
(b) restrict or require specific types of legal entity or joint venture through which a 
service supplier may supply a service. 
Article 9.6 
 
Non-Conforming Measures  
1. Articles 9.3, 9.4 and 9.5 do not apply to:  
 
(a) any existing non-conforming measure that is maintained by a Party as set out in its 
Schedule to Annex 9A; or 
(b) the continuation or prompt renewal of an y non-conforming measure referred to in 
paragraph (a); or 
(c) an amendment to any non-conforming measure  referred to in paragraph (a) to the 
extent that the amendment does not decr ease the conformity of the measure, as it 
existed immediately before the amendment, with Articles 9.3 , 9.4 and 9.5 . 
2.  Articles 9.3, 9.4 and 9.5 do not apply to any measure that a Party adopts or maintains with 
respect to sectors, subsectors or activities,  as set out in its Schedule to Annex 9B.  
 3.  Article 9.11 shall not apply to: 
 
(a) any existing non-conforming measure that is maintained by a Party as set out in 
Annex 9A; or 
(b) any existing or new measure that a Party adop ts or maintains with respect to sectors, 
subsectors or activities as set out in Annex 9B. 
 
    
                                                     
 
9-4 This paragraph does not cover measures of a Party which limits inputs for the supply of services.  WT/REG210/1 
 Page 45 
 
 
Article 9.7 
 
Additional Commitments  
 The Parties may negotiate commitments with r espect to measures affecting trade in services 
not subject to scheduling under Article 9.6, incl uding those regarding qualifications, standards or 
licensing matters. Such commitments shall be inscribed in a Party’s Schedule of specific 
commitments in Annex 9C. 
 
Article 9.8 
 
Future Liberalisation   
1. The Parties will, through future negotiations, to  be scheduled pursuant to the Article 22.1, 
further deepen liberalisation with a view to reach ing the reduction or elimination of the remaining 
restrictions scheduled in conformity with Artic le 9.6 and to adding additional commitments to 
Article 9.7, on a mutually advantageous basis a nd at ensuring an overall balance of rights and 
obligations.  
2. If a Party makes any further liberalisation of  the remaining restrictions scheduled in 
conformity with Article 9.6 or any additional comm itments scheduled in conformity with Article 9.7 
by an agreement with a non-Party, it shall afford adequate opportunity to the other Party to negotiate 
treatment granted therein on a mutually advantageo us basis and with a view to securing an overall 
balance of rights and obligations. 
Article 9.9 
 
Procedures  
At the first or subsequent review of this Agre ement pursuant to Article 22.1, the Parties shall 
establish procedures for:  
(a) a Party to notify and include in its relevant Schedule:  
(i) additional commitments pursuant to Article 9.7; and 
(ii) amendments of measures referred to in paragraph 1(c) of Article 9.6 ; and 
(b) consultations on non-conformi ng measures or additional commitments with a view to 
further liberalisation. 
Article 9.10 
 
Recognition  
1. For the purposes of the fulfillment of, in whole or  in part, its standards or criteria for the 
authorisation, licensing or certification of servi ces suppliers, and subject to the requirements in 
paragraph 3, a Party may recognise the education or experience obtained, requirements met, or 
licenses or certifications granted in the other Party.   Such recognition, which may be achieved through 
harmonisation or otherwise, may be based upon an ag reement or arrangement between the Parties, or 
may be accorded autonomously. 
2. A Party that is a party to an agreement or arra ngement of the type referred to in paragraph 1, 
whether existing or future, shall afford adequate oppor tunity for the other Party, if the other Party is WT/REG210/1 
Page 46  
 
  interested, to negotiate its accession to such an agr eement or arrangement or to negotiate comparable 
ones with it. Where a Party accords recognition auto nomously, it shall afford adequate opportunity for 
the other Party to demonstrate that education, experience, licences, or certifications obtained or 
requirements met in that other Party's territory should be recognised.  
3. A Party shall not accord recognition in a manner which would constitute a means of 
discrimination between countries in the application of  its standards or criteria for the authorisation, 
licensing or certification of services suppliers, or a disguised restriction on trade in services.  
4. Annex 9D applies to measures adopted or maintained by a Party relating to the licensing or 
certification of professional service providers. 
Article 9.11 
 
Domestic Regulation 
 
1. Each Party shall ensure that all measures of ge neral application affecting trade in services are 
administered in a reasonable, objective and impartial manner. 
2. Each Party shall maintain or institute as soon as practicable judicial, arbitral or administrative 
tribunals or procedures which provide, at the request of  an affected service supplier of the other Party, 
for the prompt review of, and where justified, appropriate remedies for, administrative decisions 
affecting trade in services.  Where such procedures are not independent of th e agency entrusted with 
the administrative decision concerned, the Party shall ensure that the procedures in fact provide for an 
objective and impartial review. 
3. Paragraph 2 shall not be construe d to require a Party to institute such tribunals or procedures 
where this would be inconsistent with its constitutio nal structure or the nature of its legal system. 
4. Where authorisation is required for the supply of a service, the competent authorities of a 
Party shall, within a reasonable period of time after the submission of an application considered 
complete under domestic laws and regulations, inform the applican t of the decision concerning the 
application.  At the request of the applicant, the competent authorities of the Party shall provide, 
without undue delay, information concerning the status of the application. 
5. With the objective of ensuring that measur es relating to qualification requirements and 
procedures, technical standards and licensing requirements do not constitute unnecessary barriers to trade in services, the Parties shall jointly review the results of the negotiations on disciplines on these 
measures, pursuant to Article VI.4 of GATS, with a view to their incorporation into this Agreement.  
The Parties note that such disci plines aim to ensure that such requirements are inter alia: 
(a) based on objective and transparent criteria, such as competence and the ability to 
supply the service; 
(b) not more burdensome than necessary to ensure the quality of the service;  
(c) in the case of licensing procedures, not in th emselves a restriction on the supply of 
the service. 
6. Pending the incorporation of disciplines pursuan t to paragraph 5, a Party shall not apply 
licensing and qualification requirements and technical standards that nullify or impair its obligations 
under this Chapter in a manner which:  WT/REG210/1 
 Page 47 
 
 
(a) does not comply with the criteria outlined in paragraphs 5(a), (b) or (c); and  
(b) could not reasonably have been expected of th at Party at the time the obligations were 
undertaken. 
7. In determining whether a Party is in conform ity with its obligations under paragraph 6, 
account shall be taken of inte rnational standards of releva nt international organisations9-5 applied by 
that Party.  
Article 9.12 
 
Denial Of Benefits  
Subject to prior notification and consultation in accordance with Article 19.3  and Article 
20.4, a Party may deny the benefits of this Chapter to a service provider of the other Party where the 
Party establishes that the service is being provided by an enterprise that is owned or controlled by 
persons of a non-Party and that has no substantive  business operations in the territory of the other 
Party. 
Article 9.13 
 
Monopoly And Exclusive Service Suppliers  
1. Each Party shall ensure that any monopoly supplie r of a service in its territory does not, in the 
supply of the monopoly service in the relevant market , act in a manner inconsistent with the Party's 
obligations under Articles 9.3 and 9.5.  
2. Where a Party's monopoly supplier competes, ei ther directly or through an affiliated 
company, in the supply of a service outside the scope of its monopoly rights and which is subject to 
that Party's obligations under Articles 9.3 and 9.5, the Party shall ensure that such a supplier does not 
abuse its monopoly position to act in its territory in  a manner inconsistent with such commitments.  
3. If a Party has reason to believe that a monopoly supplier of a service of the other Party is 
acting in a manner inconsistent with paragraph 1 or 2, it may request the other Party establishing, 
maintaining or authorising such supplier to pr ovide specific information concerning the relevant 
operations in its territory.  
4. The provisions of this Article shall also appl y to cases of exclusive service suppliers, where a 
Party, formally or in effect, (a) authorises or est ablishes a small number of service suppliers and (b) 
substantially prevents competition am ong those suppliers in its territory. 
Article 9.14 
 
Modification Or Addition Of Reservations   
1. By giving three (3) months of written notification to the other Party, a Party may modify or 
add to its non-conforming measures as set out in  Annex 9A and add new sectors, sub-sectors or 
activities to its reservations set out in Annex 9B. At the request of the other Party, it shall hold 
consultations with a view to reaching agreement on any necessary adjustment required to maintain the 
overall balance of commitments undertaken by each Party under this Agreement. If agreement is not 
                                                      
9-5 The term “relevant international organisations” refe rs to international bodies whose membership is 
open to relevant bodies of both Parties. WT/REG210/1 
Page 48  
 
  reached between the Parties on any necessary adjustment , the matter may be referred to arbitration in 
accordance with Chapter 20  (Dispute Settlement).  
2. Paragraph 1 shall not be constr ued to prejudice the right of both Parties to maintain any 
existing measure or adopt new measures consistent w ith the reservations set out in Annexes 9A and 
9B. 
3. Within two (2) years after the date of entry into  force of this Agreement, a Party may modify 
or add to its reservations as set out in Annex 9A in  respect of any measure inconsistent with Article 
9.5 so long as such a measure has b een maintained by that Party befo re the date of the signature of 
this Agreement.  
Article 9.15 
 
Payments And Transfers 
 
1. Subject to its reservations pursuant to Article 9.6 and except under the circumstances 
envisaged in Article 9.16, a Party shall not apply r estrictions on internationa l transfers and payments 
for current transactions.  
2. Nothing in this Chapter shall affect the rights a nd obligations of the Parties as members of the 
International Monetary Fund under the Articles of  Agreement of the Fund, including the use of 
exchange actions which are in conformity with the Articles of Agreement, provided that a Party shall 
not impose restrictions on any capital transactions in consistently with its obligations under this 
Chapter regarding such transactions, except under Article 9.16, or at request of the Fund. 
Article 9.16 
 
Balance- Of- Payments Exception  
1. Where a Party is in serious balance of paymen ts and external financial difficulties or threat 
thereof, it may, in accordance with Articles XI and XII of GATS adopt or maintain restrictions on 
trade in services on which it has obligations, including on payments or transfers for transactions 
related to such commitments. Articles XI and XII of GATS is hereby incorporated into and made part 
of this Agreement.   2.  The Party introducing a measure under this Article shall promptly notify the other Party.  
 
 
CHAPTER 10:  INVESTMENT 
 
Section A – Definitions
 
 
Article 10.1 
 
Definitions  
  For the purposes of this Chapter:   
 disputing investor  means an investor that makes a claim under Section C;  
  disputing Party  means a Party against which a claim is made under Section C;   WT/REG210/1 
 Page 49 
 
 
  freely usable currency  means “freely usable currency” as determined by the International 
Monetary Fund under its Articles of Ag reement and any amendments thereto; 
  investment  means every kind of asset that an investor owns or controls, directly or indirectly, 
and that has the characteristics of an investment, such as the commitment of capital or other resources, 
the expectation of gains or profits or the assumption of risk
10-1. Forms that an investment may take 
include, but are not limited to10-2: 
 
(a) an enterprise; 
(b) shares, stocks, and other forms of equity participation in an enterprise, including 
rights derived therefrom; 
(c) bonds, debentures, loans and other debt instruments of an enterprise, including rights 
derived therefrom; 
(d) futures, options, and other derivatives; 
(e) rights under contracts, including turnkey,  construction, management, production, 
concession or revenue-sharing contracts; 
(f) claims to money and claims to any performance under contract having an economic 
value; 
(g) intellectual property rights and goodwill; 
(h) rights conferred pursuant to domestic laws and regulations or contracts such as 
concessions, licences, authorisations and permits; and 
(i) other tangible or intangible, movable or immovable property, and related property 
rights, such as leases, mortgages, liens and pledges. 
investment of an investor of a Party  means an investment owned or controlled, directly or 
indirectly, by an investor of such a Party;  
 
investor of a Party  means a Party or a national or an enterprise of a Party that is seeking to 
make, is making, or has made, investments in the territory of the other Party;  
investor of a non-Party  means an investor other than an investor of a Party; 
 
                                                     
 
10-1 For clarification, investment  does not mean, 
 (a) claims to money that arise solely from:   (i)  commercial contracts for the sale of goods or services by a national or 
 enterprise in the territory of a Party to an enterprise in the territory of the 
 other Party, 
  (ii) the extension of credit in connectio n with a commercial transaction, such as 
    trade financing, and 
 (b) an order entered in a judicial or administrative action and do not involve the kinds of 
   interests set out in subparagraphs (a) to (h). 
10-2 For the purpose of this Chapter, “loans and other debt instruments” described in paragraph (c) and 
“claims to money and claims to any performance under contract” described in paragraph (f) of Article 10.1 refer 
to assets which relate to a business activity and do not refe r to assets which are of a personal nature, unrelated to 
any business activity. WT/REG210/1 
Page 50  
 
  transfers  means transfers and international payments;  
 
TRIMs Agreement  means the Agreement on Trade-Related Investment Measures, which is 
part of the WTO Agreement; and 
 
UNCITRAL Arbitration Rules  means the arbitration rules of the United Nations 
Commission on International Trade Law, approved by the United Nations General Assembly on 
December 15, 1976.  
Section B - Investment
 
Article 10.2 
 
Scope And Coverage  
1. This Chapter applies to measures adopted  or maintained by a Party relating to: 
 
(a) investors of the other Party;  
(b) investments of investors of the other Party in the territory of a Party; and 
(c) with respect to Articles 10.710-3 and 10.18, all the investments in the territory of the 
Party. 
2. This Chapter applies to the existing investment s at the date of the entry into force of this 
Agreement, as well as to the investments made or acquired after this date. 
 
3. For the purposes of this Chapter, measures a dopted or maintained by a Party mean measures 
adopted or maintained by central or local governments and authorities or by non-governmental bodies in the exercise of any regulatory, administrative or other governmental aut hority delegated by central 
or local governments and authorities. 
 
4. This Chapter does not apply to claims arising out of events which occurred, or claims which 
had been raised, prior to the entry into force of this Agreement.  
 5. This Chapter does not apply to services supp lied in the exercise of governmental authority 
(such as law enforcement, correctional services, in come security or insurance, social security
10-4 or 
insurance, social welfare, public education, public training, health, and child care), provided that such 
services are supplied neither on a commercial basis,  nor in competition with one or more service 
suppliers.  
Article 10.3 
 
Relation To Other Chapters
 
1. In the event of any inconsistency between  this Chapter and another Chapter in this 
Agreement, the other Chapter shall prevail to the extent of the inconsistency.  
                                                      
10-3 This provision will be applied only when  the inve stment of the investor of the Party suffers loss 
through the imposition of performance requirements to an investment of investor of a non-Party . 
10-4 For the purpose of Article 10.1 1, both Parties agree that soci al security, public retirement or 
compulsory savings schemes run by the government, such as the Central Provident Fund of Singapore, fall  
within  the scope of  “services supplied in the exercise of govern mental authority”.  WT/REG210/1 
 Page 51 
 
 
2. The requirement by a Party that a service provider of the other Party post a bond or other form of financial security as a condition of provid ing a service into its territory does not of itself 
make this Chapter applicable to the provision of that cross-border service. This Chapter applies to 
that Party's treatment of the posted bond or financial security.  
3. This Chapter does not apply to measures adopted  or maintained by a Party to the extent that 
they are covered by Chapter 12 (Financial Services) unless specified otherwise therein. 
 
Article 10.4 
 
National Treatment
 
1. Each Party shall accord to investors of the ot her Party treatment no less favourable than that it 
accords, in like circumstances, to its own investor s with respect to the establishment, acquisition, 
expansion, management, conduct, operation, and sale or other di sposition of investments in its 
territory.  
 
2. Each Party shall accord to investments of investors of the other Party treatment no less favourable than that it accords, in like circumstan ces, to investments in its territory of its own 
investors with respect to the establishment, acquis ition, expansion, manageme nt, conduct, operation, 
and sale or other disposition of investments.  
3. The treatment to be accorded by a Party unde r paragraphs 1 and 2 means, with respect to a 
local government, treatment no less favourable than the most favourable treatment accorded, in like 
circumstances, by that local governme nt to investors, and to investments of investors, of the Party of 
which it forms a part, including itself.  
Article 10.5 
 
Minimum Standard Of Treatment
 
1. Each Party shall accord to investments of i nvestors of the other Party treatment in accordance 
with the customary international law minimum sta ndard of treatment, including fair and equitable 
treatment and full protection and security. 
 
2. The concepts of “fair and equitable tr eatment” and “full protection and security” in 
paragraph 1 do not require treatment  in addition to or beyond that which is required by the customary 
international law minimum standard of treatment of aliens and do not creat e additional substantive 
rights. 
 
(a) The obligation to provide "fair and equitabl e treatment" includes the obligation not to 
deny justice in criminal, civil or administrative adjudicatory proceedings. 
(b) The obligation to provide "full protection and security" requires each Party to provide 
the level of police protection required under customary international law. 
(c) The "customary international law minimum sta ndard of treatment of aliens" refers to 
all customary international law principl es that protect the economic rights and 
interests of aliens. 
3. A determination that there has been a breach of  another provision of this Agreement, or of a 
separate international agreement, does not establish that there has been a breach of this Article. 
 
 WT/REG210/1 
Page 52  
 
  Article 10.6 
 
Access To The Judicial And Administrative Procedures
 
Each Party shall within its territory accord to  investors of the other Party treatment no less 
favourable than the treatment which it accords in like circumstances to its own investors, with respect 
to access to its courts of justice and administrative tribunals and agencies in all degrees of jurisdiction 
both in pursuit and in defence of such investors’ rights.  
Article 10.7 
 
Performance Requirements
 
1. Neither Party may impose or enforce any of the following requirements, or enforce any 
commitment or undertaking, in connection wi th the establishment, acquisition, expansion, 
management, conduct, operation, or sale or other dispos ition of an investment of an investor of a Party 
or of a non-Party in its territory:  
 
(a) to export a given level or percentage of goods or services; 
(b) to achieve a given level or pe rcentage of domestic content; 
(c) to purchase, use or accord a preference to  goods produced in its territory, or to 
purchase goods from persons in its territory; 
(d) to purchase, use or accord a preference to  services provided in its territory, or to 
purchase services from persons in its territory; 
(e) to relate the volume or value of imports to  the volume or value of exports or to the 
amount of foreign exchange inflows associated with such investment;  
(f) to restrict sales of goods or services in its te rritory that such investment  produces or 
provides by relating such sales to the volume or value of its exports or foreign 
exchange earnings; 
(g) to transfer technology, a production process  or other proprietary knowledge to a 
person in its territory, except when the requi rement is imposed or the commitment or 
undertaking is enforced by a court, administrative tribunal or competition authority to remedy an alleged violation of competition la w or to act in a manner not inconsistent 
with other provisions of this Agreement; or 
(h) to supply exclusively from the territory of  the Party the goods that it produces or the 
services that it supplies to a specific re gional market or to the world market. 
2. The provisions of paragraph 1 do not preclude either Party from conditioning the receipt or 
continued receipt of an advantage, in connection w ith investment and business activities in its territory 
of an investor of the other Party or of a non-Pa rty, on compliance with any of the requirements set 
forth in paragraphs 1 (d), (g) and (h). 
 3. Nothing in paragraph 1 shall be construed to  prevent a Party from conditioning the receipt or 
continued receipt of an advantage, in  connection with an investment in its territory of an investor of a 
Party or of a non-Party, on compliance with a re quirement to locate production, provide a service,  WT/REG210/1 
 Page 53 
 
 
train or employ workers, construct or expand particular facilities, or carry out research and 
development, in its territory.  4. Provided that such measures are not applied in  an arbitrary or unjustifiable manner, or do not 
constitute a disguised restriction on international tr ade or investment, nothing in paragraphs 1(b), (c) 
or (d)  shall be construed to prevent a Party from adopting or maintaining measures, including 
environmental measures:  
(a) necessary to secure compliance with laws and regulations that are not inconsistent 
with the provisions of this Agreement;  
(b) necessary to protect human, animal or plant life or health; or  
(c) necessary for the conservation of living or  non-living exhaustible natural resources. 
5. Nothing in this Article shall be construed so as to derogate from the rights and obligations of 
the Parties under the TRIMs Agreement.  
6. This Article does not preclude the applicati on of any commitment, obligation or requirement 
between private parties, where a Party did not im pose or require such commitment, undertaking or 
requirement.  
Article 10.8 
 
Senior Management And Boards Of Directors
 
1. Neither Party may require that an enterprise of th at Party that is an investment of an investor 
of the other Party appoint to senior management positions individuals of any particular nationality. 
 2. A Party may require that a majority of the board  of directors, or any committee thereof, of an 
enterprise of that Party that is an investment of an  investor of the other Party, be of a particular 
nationality, or resident in the territory of the Part y, provided that the requirement does not materially 
impair the ability of the investor to exercise control over its investment.  
Article 10.9 
 
Non-Conforming Measures
 
1. Articles 10.4, 10.7, and 10.8 shall not apply to:  
 
(a) any existing non-conforming measure that is maintained by a Party as set out in its 
Schedule to Annex 9A; 
(b) the continuation or prompt renewal of an y non-conforming measure referred to in 
paragraph (a); or  
(c) an amendment to any non-conforming measure  referred to in paragraph (a) to the 
extent that the amendment does not decr ease the conformity of the measure, as it 
existed immediately before the amendmen t, with Articles 10.4, 10.7, and 10.8. 
2. Articles 10.4, 10.7 and 10.8 shall not apply to any measure that a Party adopts or maintains 
with respect to sectors, sub-sectors or activities, as set out in its Schedule to Annex 9B.  
 WT/REG210/1 
Page 54  
 
  3. Neither Party shall, under any measure adopted after the date of entry into force of this 
Agreement and covered by its Schedul e to Annex 9B, require an investor of the other Party, by reason 
of its nationality, to sell or otherwise dispose of  an investment existing at the time the measure 
becomes effective.  
4. Articles 10.4 and 10.8 shall not apply to:  
 
(a) government procurement by a Party; or 
(b) subsidies or grants provided by a Party, or to any conditions attached to the receipt or 
continued receipt of such subsidies or grants, whether or not such subsidies or grants 
are offered exclusively to investors of the Party or investments of investors of the 
Party, including government-supported loans, guarantees and insurance. 
5. Nothing in this Chapter shall be construed so  as to derogate from rights and obligations under 
international agreements in respect of protection of intellectual property rights to which both Parties 
are party, including the WTO Agreement on Trade- Related Aspects of Intellectual Property Rights 
and other treaties concluded under the auspices of  the World Intellectual Property Organization. 
 
Article 10.10 
 
Future Liberalisation
 
1. If a Party makes any further liberalisation of the remaining restrictions scheduled in 
conformity with Article 10.9 by an  agreement with a non-Party, it sha ll afford adequate opportunity to 
the other Party to negotiate treatment granted ther ein on a mutually advantageous basis and with a 
view to securing an overall balance of rights and obligations.  
2. Through the review mechanism pursuant to Ar ticle 22.1, the Parties will engage in further 
liberalisation with a view to reaching the reducti on or elimination of the remaining restrictions 
scheduled in conformity with paragraphs 1 and 2 of  Article 10.9 on a mutually advantageous basis and 
securing an overall balance of rights and obligations. 
 
Article 10.11 
 
Transfers
 
1. Each Party shall permit all transfers relating to an investment of an investor of the other Party 
to be made freely and without delay into and out of its territory. Such transfers include:  
 
(a) the initial capital and additional amounts to maintain or increase an investment; 
(b) profits, dividends, interest, capital gains,  royalty payments, management fees, 
technical assistance and other fees, returns in kind and other amounts derived from 
the investment;  
(c) proceeds from the sale of all or any part of the investment or from the partial or 
complete liquidation of the investment;  
(d) payments made under a contract entered in to by the investor, or its investment, 
including payments made pursuant to a loan agreement;  
(e) payments made pursuant to Articles 10.13 and 10.14; and  WT/REG210/1 
 Page 55 
 
 
(f) payments arising under Section C. 
2. Each Party shall permit transfers prescribed in paragraph 1 to be made in a freely usable 
currency at the market rate of exchange prevailing at the time of transfer.  3. Notwithstanding paragraphs 1 and 2, a Party may prevent a transfer through the equitable, 
non-discriminatory and good faith appli cation of its laws relating to:  
 
(a) bankruptcy, insolvency or the protection of the rights of creditors;  
(b) issuing, trading, or dealing in securiti es, futures, options, or derivatives;  
(c) financial reporting or record keeping of  transfers when necessary to assist law 
enforcement or financial regulatory authorities; 
(d) criminal or penal offences; or 
(e) ensuring compliance with orders or judgments in judicial or administrative 
proceedings. 
Article 10.12 
 
Safeguards
 
1. A Party may, subject to paragraph 2, adopt  or maintain measures inconsistent with its 
obligation provided for in Article 10.4 relating to cross-border capital transactions or Article 10.11: 
 
(a) in the event of serious balance of payments or external financial difficulties or threat 
thereof; or 
(b) where, in exceptional circumstances, payments and capital movements between the 
Parties cause or threaten to cause serious difficulties for the operation of monetary policy or exchange rate policy in either Party. 
2. The measures referred to in paragraph 1: 
 
(a) shall be consistent with the Articles of Agreement of the International Monetary 
Fund; 
(b) shall not exceed those necessary to deal  with the circumstances described in 
paragraph 1; 
(c) shall be temporary and phased out prog ressively as the situation improves; 
(d) shall promptly be notified to the other Party; 
(e) shall avoid unnecessary damage to the commercial, economic and financial interests 
of the other Party;  
(f) shall be applied on a national treatment basis; and 
(g) shall ensure that the other Party is treated as favourably as any non-Party. WT/REG210/1 
Page 56  
 
  3. Measures adopted or maintained pursuant to paragraph 1(b) shall not exceed a period of six 
(6) months and may be extended through their form al reintroduction. In addition, a Party adopting 
such measures or any changes sha ll commence consultations with the other Party in order to review 
the restrictions adopted by it.  
4. Nothing in this Chapter shall be regarded  as affecting the rights enjoyed and obligations 
undertaken by a Party as a party to the Articles of  Agreement of the International Monetary Fund. 
 
Article 10.13 
 
Expropriation And Compensation
 
1. Neither Party may, directly or indirectly, nationalise or expropriate an investment of an 
investor of the other Party in its territory, except:   
(a) for a public purpose;  
(b) on a non-discriminatory basis;  
(c) in accordance with due process of  law and Article 10.6; and  
(d) on payment of compensation in accordance with paragraphs 2, 3 and 4. 
2. Compensation shall: 
 
(a) be paid without delay and be fully realisable; 
(b) be equivalent to the fair market value of  the expropriated investment immediately 
before the expropriation took place ("date of expropriation"); and 
(c) not reflect any change in value occurr ing because the intended expropriation had 
become known earlier. 
3. If the fair market value is denominated in a freely usable currency, the compensation paid 
shall be no less than the fair market value on the date  of expropriation, plus interest at a commercially 
reasonable rate for that currency, accrued from the da te of expropriation until the date of payment.  
 4. If the fair market value is denominated in a currency that is not freely usable, the 
compensation paid – converted into the currency of pa yment at the market rate  of exchange prevailing 
on the date of payment – shall be no less than: 
 
(a) the fair market value on the date of expropriation, converted into a freely usable 
currency at the market rate of exchange prevailing on that date, plus 
(b) interest, at a commercially reasonable rate for that freely usable currency, accrued 
from the date of expropriation until the date of payment. 
5. Notwithstanding paragraphs 1,  2, 3 and 4, any measure of expropriation relating to land, 
which shall be as defined in the existing domestic legi slation of the expropriating Party on the date of 
entry into force of this Agreem ent, shall be, for a purpose and upon payment of compensation, in 
accordance with the aforesaid legislation and any s ubsequent amendments thereto relating to the  WT/REG210/1 
 Page 57 
 
 
amount of compensation where such amendments follow the general trends in the market value of the 
land10-5. 
 6. This Article does not apply to the issuance of compulsory licences granted in relation to 
intellectual property rights in accordance with the TR IPS Agreement, or to the revocation, limitation, 
or creation of intellectual property rights, to the exte nt that such issuance, revocation, limitation, or 
creation is consistent with Chapte r 17 (Intellectual Property Rights). 
 
Article 10.14 
 
Losses And Compensation
 
1. Investors of a Party whose investments suffe r losses owing to war or other armed conflict, a 
state of national emergency, revolt, insurrection, ri ot or other similar situations, and such losses as 
ones resulting from requisition or destruction of prop erty, which was not caused in combat action or 
was not required by the necessity of the situation, in the territory of the other Party, shall be accorded 
by the other Party, treatment, as regards restitution,  indemnification, compensation or other forms of 
settlement, no less favourable than that which the ot her Party accords to its own investors or to 
investors of any non-Party, whichever is mo re favourable to the investors concerned. 
 2. Paragraph 1 does not apply to existing measur es relating to subsidies or grants, or to any 
conditions attached to the receipt or continued receipt  of such subsidies or grants, whether or not such 
subsidies or grants are offered exclusively to invest ors of the Party or investments of investors of the 
Party, including government-supporte d loans, guarantees and insurance, that would be inconsistent 
with Article 10.4 but for para graph 4(b) of Article 10.9. 
 
Article 10.15 
 
Subrogation
 
1. Where a Party or an agency authorised by th at Party has granted a contract of insurance or 
any form of financial guarantee against non-commercial risks with regard to an investment by one of 
its investors in the territory of the other Party and when payment has been made  under this contract or 
financial guarantee by the former Party or the agency  authorised by it, the latter Party shall recognise 
the rights of the former Party or the agency author ised by the Party by virtue of the principle of 
subrogation to the rights of the investor.  2. Where a Party or  the agency authorised by the Party  has made a payment to its investor and 
has taken over rights and claims of the investor, that investor shall not, unless authorised to act on 
behalf of the Party or the ag ency authorised by the Party,  making the payment, pursue those rights and 
claims against the other Party.  3. Articles 10.11, 10.13 and 10.14 shall apply mutatis mutandis as regards payment to be made 
to the Party or the agency prescribed in paragraphs 1 and 2 by virtue of such recognition of rights and 
claims, and the transfer of such payment. 
 
 
   
 
                                                     
 
10-5 Article 10.13 is to be interpreted in accordance with and is subjected to the letter exchange on 
expropriation. WT/REG210/1 
Page 58  
 
  Article 10.16 
 
Special Formalities And Information Requirements
 
1. Nothing in Article 10.4 shall be construed to  prevent a Party from adopting or maintaining a 
measure that prescribes special formalities in conn ection with the establishment of investments by 
investors of the other Party, such as the requirement  that investments be legally constituted under the 
laws or regulations of the Party, provided that su ch formalities are consistent  with this Chapter and do 
not materially impair the protections pursuant to th is Chapter afforded by a Party to investors of the 
other Party and investments of investors of the other Party .  
2. Notwithstanding Article 10.4, a Party may requi re an investor of the other Party, or an 
investment of the investor in its territory, to pr ovide routine information concerning that investment 
solely for informational or statistical purposes. Th e Party shall protect such business information that 
is confidential from any disclosure that would prejud ice the competitive position of the investor or the 
investment. Nothing in this paragraph shall be c onstrued to prevent a Party from otherwise obtaining 
or disclosing information in connection with the equitable and good faith application of its law. 
 
Article 10.17 
 
Denial Of Benefits
 
Subject to prior notification and consultation in  accordance with Articles 19.3  and 20.4, a Party 
may deny the benefits of this Chapter to an investor  of the other Party that is an enterprise of such 
other Party and to investments of that investor if in vestors of a non-Party own or control the enterprise 
and the enterprise has no substantive business operati ons in the territory of the other Party under 
whose law it is constituted or organised.  
Article 10.18 
 
Environmental Measures
 
Nothing in this Chapter shall be construed to prevent a Party from adopting, maintaining or 
enforcing any measure otherwise consistent with this  Chapter that it considers appropriate to ensure 
that investment activity in its territory is undertak en in a manner sensitive to environmental concerns. 
 
Section C - Settlement Of Disputes Between A Party And An Investor Of The Other Party  
Article 10. 19 
 
Settlement Of Disputes Between A Party And An Investor Of The Other Party  
1. This Article shall apply to disputes between  a Party and an investor of the other Party 
concerning an alleged breach of an obligation of the former under this Chap ter which causes loss or 
damage to the investor or its investment and estab lishes a mechanism for the settlement of investment 
disputes that assures both equal treatment among inv estors of the Parties in accordance with the 
principle of international reciprocity and due process before an  impartial tribunal. 
 
2. The parties to the dispute shall initially seek  to resolve the disput e by consultations and 
negotiations.     WT/REG210/1 
 Page 59 
 
 
3. If the dispute cannot be resolved as provided for under paragraph 2 within six (6) months 
from the date of a request for consultations and ne gotiations, and if the investor concerned has not 
submitted the investment dispute for resolution (a) befo re the courts or administrative tribunals of the 
disputing Party (excluding proceedi ngs for interim measures of protection referred to in paragraph 5), 
or (b) in accordance with any previ ously agreed dispute settlement pr ocedures, the investor concerned 
may submit the dispute for settlement to:  
 
(a) the International Centre for Settlement of Investment Disputes (ICSID), if both 
Parties are parties to the ICSID Convention; 
(b) arbitration under UNCITRAL Arbitration Rules; or 
(c) any other arbitral institution or in accordan ce with any other arbitral rules, if the 
parties to the dispute so agree. 
4. Each Party hereby consents to the submission of a dispute to arbitra tion under paragraphs 3(a) 
and 3(b) in accordance with the provisions of this Article, conditional upon:   
(a) the submission of the dispute to such arbitr ation taking place within three (3) years of 
the time at which the disputing investor became aware, or should reasonably have 
become aware, of a breach of an obligati on under this Chapter and, of the loss or 
damage incurred by the disputin g investor or its investment; 
(b) the disputing investor not being an enterpri se of the disputing Party until the disputing 
investor refers the dispute for arbitration pursuant to paragraph 3; and 
(c) the disputing investor providing written no tice, which shall be delivered at least 
ninety (90) days before the claim to arbitr ation is submitted, to the disputing Party of 
its intent to submit the dispute to such arbitration and which: 
(i) nominates one (1) of the fora in paragraph 3(a), (b) or (c) as the forum for 
dispute settlement;  
(ii) briefly summarises the alleged breach of the disputing Party under this 
Chapter (including the articles alleged to have been breached) and the loss or 
damage allegedly caused to the investor or its investment. 
5. Neither Party shall prevent the disputi ng investor from seeking interim measures of 
protection, not involving the payment of damages or resolution of the substance of the matter in 
dispute before the courts or administrative tribunals of the disputing Party, prior to the institution of 
proceedings before any of the dispute settlement fora  referred to in paragraph 3, for the preservation 
of its rights and interests.   6. Neither Party shall give diplomatic protection, or bring an international claim, in respect of a 
dispute which one of its investors and the other Party shall have consented to submit or have 
submitted to arbitration under this Article, unless such  other Party has failed to abide by and comply 
with the award rendered in such dispute.  Diploma tic protection, for the purposes of this paragraph, 
shall not include informal diplomatic exchanges fo r the sole purpose of facilitating a settlement of the 
dispute.  
 
 
  WT/REG210/1 
Page 60  
 
  CHAPTER 11:  TELECOMMUNICATIONS 
 
Article 11.1 
 
Definitions
 
 For the purposes of this Chapter: 
  cost-oriented means based on cost, and may include a reasonable profit, and may involve 
different cost methodologies for different facilities or services;  
 end-user means a final consumer of or subscriber to a public telecommunications service, 
including a service supplier but excluding a supplier of public telecommunications transport network 
or services;   essential facilities means facilities of a public telecomm unications transport network or 
service that: 
 
(a) are exclusively or predominantly provided by a single or limited number of suppliers; 
and 
(b) cannot feasibly be economically or techni cally substituted in order to provide a 
service; 
 facilities-based suppliers  means suppliers of public teleco mmunications transport networks 
or services that are:  
(a) for Korea, telecommunications carrier s provided for in Article 5 of the 
Telecommunications Business Act; and  
(b) for Singapore, Facilities-Based Operators; 
 major supplier  means a supplier of basic telecommuni cations services that has the ability to 
materially affect the terms of participation (having regard to price and supply) in the relevant market 
for public telecommunications transport network or services as a result of:  
(a) control over essential facilities; or 
(b) use of its position in the market; 
 network element means a facility or equipment used in the provision of a public 
telecommunications service, including features, func tions, and capabilities that are provided by means 
of such facility or equipment;  
 non-discriminatory means treatment no less favourable than  that accorded to any other user 
of like public telecommunications transport networks or services in like circumstances;  
 
 number portability means the ability of end-users of public telecommunications transport 
network or services to retain existing telephone numbe rs without impairment of quality, reliability, or 
convenience when switching between like suppliers of  public telecommunications transport network 
or services; 
  WT/REG210/1 
 Page 61 
 
 
 public telecommunications transport network means public telecommunications 
infrastructure that permits telecommunications between defined networ k termination points;   
 
 public telecommunications transport network or services means public 
telecommunications transport network and/or public telecommunications transport services;    
 public telecommunications transport service means any telecommunications transport 
service required by a Party, explicitly or in effect , to be offered to the public generally, including 
telegraph, telephone, telex and data transmission, that typically involves the real-time transmission of 
customer-supplied information between two or mo re points without any end-to-end change in the 
form or content of the customer's information;  
 
 service supplier means any person  that supplies a service ; 
 
 telecommunications means the transmission and reception of signals by any electromagnetic 
means; and 
 
user means service consumers and service suppliers. 
 
Article 11.2 
 
Scope And Coverage
11-1 
1. This Chapter shall apply to measures adopted or  maintained by a Party that affect access to 
and use of, and the regulation of public teleco mmunications transport networks and services. 
 2. This Chapter does not apply to any measure adopted or maintained by a Party relating to 
cable or broadcast distribution of  radio or television programming. 
 3. Nothing in this Chapte r shall be construed to: 
 
(a) require a Party to authorise a service s upplier of the other Party to establish, 
construct, acquire, lease, operate or provi de telecommunications transport networks 
or services; or 
(b) require a Party (or require a Party to compel any service supplier) to establish, 
construct, acquire, lease, operate or provi de telecommunications transport networks 
or services not offered to the public generally. 
Article 11.3 
 
Access To And Use Of Public Telecommuni cations Transport Networks And Services
 
1. Each Party shall ensure that service suppliers of the other Party have access to and use of any 
public telecommunications transport network and service,  including private leased circuits, offered in 
its territory or across its borders on reasonable, non-discriminatory, timely and transparent terms and 
conditions, including as those set out in  paragraphs 2, 3, 4, 5 and 6. 
 
2. Each Party shall ensure that service s uppliers of the other Party are permitted to: 
 
                                                      
11-1 The obligations of a Party in this Chapter shall be applied in a non-discriminatory manner to 
suppliers of public telecommunications transp ort network or services of both Parties. 
 WT/REG210/1 
Page 62  
 
  (a) purchase or lease, and attach terminal or other equipment that interfaces with the 
public telecommunications transport network; 
(b) interconnect leased or owned circuits w ith public telecommunications transport 
networks and services in the territory, of that  Party, or with circuits leased or owned 
by another service supplier; 
(c) perform switching, signaling and processing functions;  
(d) use operating protocols of their choice, other than as necessary to ensure the 
availability of telecommunications transport networks and services to the public generally; and 
(e) provide services to individual or multiple  end-users over any leased or owned 
circuit(s) to the extent that the scope a nd type of such services are not inconsistent 
with each Party’s domestic laws and regulations.  
3. Each Party shall ensure that service suppliers of the other Party may use public 
telecommunications transport networks and services fo r the movement of information in its territory 
or across its borders, including for intra-corpor ate communications, and for access to information 
contained in databases or otherwise stored in machine-r eadable form in the territory of the other Party.  
 4. Notwithstanding the preceding paragraph, a Part y may take such measures as are necessary to 
ensure the security and confidentia lity of messages, or to protect the privacy of personal data of end-
users, subject to the requirement that such measures are not applied in a manner which would 
constitute a means of arbitrary or unjustifiable discr imination or a disguised restriction on trade in 
services. 
 5. Each Party shall ensure that no conditio n is imposed on access to and use of public 
telecommunications transport networks and services, other than that necessary to: 
 
(a) safeguard the public service responsibilities of suppliers of public 
telecommunications transport networks and services, in particular their ability to 
make their networks or services available to the public generally; or 
(b) protect the technical integrity of public telecommunications transport networks and 
services. 
6. Provided that they satisfy the criteria set out  in paragraph 5, conditions for access to and use 
of public telecommunications transpor t networks and services may include: 
 
(a) a requirement to use specified technical interfaces, including interface protocols, for 
interconnection with such networks or services; 
(b) requirements, where necessary, for th e inter-operability of such services;  
(c) type approval of terminal or  other equipment which interfaces with the network and 
technical requirements relating to the attach ment of such equipment to such networks; 
or  
(d) notification, registration and licensing. 
  WT/REG210/1 
 Page 63 
 
 
Article 11.4 
 
Conduct Of Major Suppliers  
Treatment by Major Suppliers 
 
1. Each Party shall ensure that any major supplier in its territory accords facilities-based 
suppliers, licensed in its territory, of the other Pa rty treatment no less favourable than such major 
supplier accords to itself, its subsidiaries, its affilia tes, or any non-affiliate d service supplier, provided 
they are facilities-based suppliers, regarding:  
 (a) the availability, provisioning, rates, or quality of like public telecommunications 
transport network or services; and  
   (b) the availability of technical interfaces necessary for interconnection. 
 
 When necessary, a Party shall assess such treatment on the basis of whether such suppliers of 
public telecommunications transport network or serv ices, subsidiaries, affiliates, and non-affiliated 
service suppliers are in like circumstances. 
 
Competitive Safeguards  
2. (a) Each Party shall maintain appropr iate measures for the purpose of preventing 
suppliers of public telecommunications tran sport network or services who, alone or 
together, are a major supplier in its territory from engaging in or continuing anti-competitive practices. 
 
 (b) For the purposes of paragraph (a ), anti-competitive practices include: 
 
(i) engaging in anti-competitive cross-subsidisation; 
(ii) using information obtained from compet itors with anti-competitive results;  
(iii) not making available, on a timely basis, to suppliers of public 
telecommunications transport network or services, technical information 
about essential facilities and commercially relevant information that is 
necessary for them to provide public telecommunications transport network or services; and  
(iv) pricing services in a manner that gives rise to unfair competition.  
Unbundling of Network Elements 
 
3. (a) Each Party shall ensure that major supp liers in its territory provide to facilities-based 
suppliers, licensed in its territory, of the other Party access to network elements for the provision of public telecommunications transport network or services at any technically feasible point, on an unbundled basis, in a timely fashion; and on terms, conditions, and cost-oriented rates that are reasonable, transparent, and non-
discriminatory. 
  (b) Each Party may determine, in accordan ce with its domestic laws and regulations, 
which network elements it requires major supp liers in its territory to provide access to 
in accordance with paragraph (a) on the basis of the technical feasibility of 
unbundling and the state of competition in the relevant market. WT/REG210/1 
Page 64  
 
  Co-Location 
 
4. (a) Each Party shall ensure that major supp liers in its territory provide to facilities-based 
suppliers, licensed in its territory, of the other Party physical co-location of 
equipment necessary for interconnection or access to unbundled network elements in 
a timely fashion and on terms, conditions, and cost-oriented rates that are reasonable, 
transparent, and non-discriminatory. 
  (b) Where physical co-location under paragraph (a) is not practical for technical reasons 
or because of space limitations, each Party shall ensure that major suppliers co-
operate with facilities-based suppliers to fi nd alternatives, which could include site 
inspections of co-location premises, in accordance with each Party’s domestic laws 
and regulations.  
 
 (c) Each Party may determine, in accordan ce with its domestic laws and regulations, 
which premises in its territory shall be  subject to paragraphs (a) and (b). 
 
Resale 
 
5. (a) Each Party shall ensure that majo r suppliers in its territory do not impose 
unreasonable or discriminatory conditions, limitations or rates on the resale of public 
telecommunications transport network or services that the major supplier provides at 
retail to end-users.  
  (b) Each Party may determine, in accordance  with its domestic laws and regulations, the 
type and scope of resale in its territory. 
 
Poles, Ducts, and Conduits 
 
6. (a) Each Party shall ensure that major su ppliers in its territory provide access to poles, 
ducts, conduits, or any other structures de emed necessary by the Party, which are 
owned or controlled by such major suppliers  to facilities-based suppliers, licensed in 
its territory, of the other Party: 
 
(i) in a timely fashion; and 
(ii) on terms, conditions, and cost-oriented rates that are reasonable, transparent, 
and non-discriminatory. 
 (b)  Each Party may determine, in accordance  with its domestic laws and regulations, the 
poles, ducts, conduits or other structures to  which it requires major suppliers in its 
territory to provide access under paragraph (a) on the basis of the state of competition 
in the relevant market. 
 
Number Portability 
 
7. Each Party shall ensure that major suppliers  in its territory provide number portability, for 
those services designated by that Party, to the ex tent technically feasible, on a timely basis and on 
reasonable terms and conditions. 
 
 
   WT/REG210/1 
 Page 65 
 
 
Interconnection 
 
8. (a) General Terms and Conditions 
 
 Interconnection to be Ensured 
 
 Each Party shall ensure interconnection be tween a facilities-based supplier and any other 
facilities-based supplier or a services-based supplie r to the extent provided for in its laws and 
regulations. 
  Interconnection with Major Suppliers 
 
Each Party shall ensure that a major supplier is required to provide interconnection at any 
technically feasible point in the network. Such interconnection is provided: 
 
(i) under non-discriminatory terms, conditi ons (including technical standards 
and specifications) and rates and of a quality no less favourable than that provided for its own like services, or for like services of non-affiliated service suppliers or for like services of its subsidiaries or other affiliates; 
(ii) in a timely fashion, on terms, conditions (including technical standards and 
specifications) and cost-oriented rates that  are transparent, reasonable, having 
regard to economic feasibility, and suffi ciently unbundled so that the supplier 
need not pay for network components or facilities that it does not require for the services to be provided; and 
(iii) upon request, at points in addition to the network termination points offered 
to the majority of users, subject to char ges that reflect the cost of construction 
of necessary additional facilities. 
 (b) Transparency of interconnection arrangements 
 
 Each Party shall ensure that a major supp lier will make publicly available either its 
interconnection agreements or a reference interconnection offer. 
 
 (c) Public Availability of the Proce dures for Interconnection Negotiations  
 
 Each Party shall make publicly ava ilable the applicable procedures for 
interconnection negotiations with ma jor suppliers in its territory. 
 
 (d) Public  Availability of Interconnection Agreem ents Concluded with Major Suppliers  
 
(i) Each Party shall require major suppliers  in its territory to file all their 
interconnection agreements with its telecommunications regulatory body. 
(ii) Each Party shall make available to suppliers of public telecommunications 
transport network or services which are seeking interconnection, 
interconnection agreements between a ma jor supplier in its territory and any 
other supplier of public telecommunica tions transport network or services in 
such territory. 
 
 
 WT/REG210/1 
Page 66  
 
   (e)  Resolution of Interconnection Disputes 
   Each Party shall ensure that suppliers of public telecommunicati ons transport network 
or services of the other Party, that have requested interconnection with a major supplier in the Party’s territory have r ecourse to a telecommunications regulatory 
body to resolve disputes regarding the term s, conditions, and rates for interconnection 
within a reasonable and publicly available period of time. 
 Provisioning and Pricing of Leased Circuits Services
11-2 
 
9. Each Party shall ensure that major suppliers of  leased circuits services in its territory provide 
service suppliers of the other Party leased circui ts services that are public telecommunications 
transport network or services, on terms and cond itions, and at rates that are reasonable, non-
discriminatory, timely, and transparent. 
 
Article 11.5 
 
Independent Regulators  
1. Each Party shall ensure that its telecommuni cations regulatory body is separate from, and, not 
accountable to, any supplier of public telecomm unications transport network or services.  
 
2. Each Party shall ensure that the decisions of, and procedures used by its telecommunications 
regulatory body are impartial with respect to all market participants.   
Article 11.6 
 
Universal Service
 
Each Party shall administer any universal service  obligation that it maintains in a transparent, 
nondiscriminatory, and competitively neutral manner and shall ensure that its universal service 
obligation is not more burdensome than necessary for the kind of universal service that it has defined. 
 
Article 11.7 
 
Licensing Process  
1. When a Party requires a supplier of public telecommunications transport network or services 
to have a licence, the Party shall make publicly available:  
(a) all the licensing criteria and procedures it applies; 
(b) the period of time normally required to reach  a decision concerning an application for 
a licence; and 
(c) the terms and conditions of all licences. 
2. Each Party shall ensure that an applicant re ceives, upon request, the reasons for the denial of a 
licence. 
 
                                                     
 
11-2 The obligation under this article is not an obliga tion to provide leased ci rcuits as an unbundled 
network element .   WT/REG210/1 
 Page 67 
 
 
Article 11.8 
 
Allocation And Use Of Scarce Resources11-3 
1. Each Party shall administer its procedures for the allocation and use of scarce resources, 
including frequencies, numbers, and rights of way,  in an objective, timely, transparent, and non-
discriminatory fashion. 
 2. Each Party shall make publicly available th e current state of allocated frequency bands but 
shall not be required to provide detailed identifi cation of frequencies assigned or allocated by each 
government for specific government uses. 
 
Article 11.9 
 
Enforcement
 
Each Party shall ensure that its telecommuni cations regulatory body maintains appropriate 
procedures and authority to enforce domestic measur es relating to the obligations under this Chapter. 
Such procedures and authority shall include the ability to impose effective sanctions, which may 
include financial penalties, corrective orders, or m odification, suspension, and revocation of licences. 
Article 11.10 
 
Resolution Of Domestic Telecommunications Disputes  
Recourse 
 
1. Each Party shall ensure that suppliers of public telecommunications transport networks or 
services of the other Party have timely recourse to  a telecommunications regulatory body or other 
relevant body to resolve disputes arising under dome stic measures addressing a matter set out in this 
Chapter. 
 
Reconsideration 
 
2. Each Party shall ensure that any supplier of  public telecommunications transport networks or 
services aggrieved by the determination or decisi on of the telecommunications regulatory body may 
petition that body for reconsideration of that determination or decision.   Neither Party may permit 
such a petition to constitute grounds for non-compliance with such determination or decision of the 
telecommunications regulatory body unless an appr opriate authority stays such determination or 
decision. 
 
Appeal 
 
3. Each Party shall ensure that any supplier of  public telecommunications transport networks or 
services aggrieved by a determination or decision of the telecommunications regulatory body has the 
opportunity to appeal such determination or decisi on to an independent judicial or administrative 
authority.  
                                                      
 11-3 The Parties understand that decisions on allo cating and assigning spectrum, and frequency 
management are not measures that are per se inconsiste nt with Article 9.5 and Artic le 10.7. Accordingly, each 
Party retains the right to exercise its spectrum and frequency management policies, which may affect the number of suppliers of public telecommunications services, provided that this is done in a manner that is 
consistent with the provisions of this Agreement. The Parties also retain the right to allocate frequency bands 
taking into account existing and future needs.
 WT/REG210/1 
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  Article 11.11 
 
Transparency
 
Each Party shall ensure that: 
 
(a) rulemakings, including the basis for such rulemakings, of its telecommunications 
regulatory body are published or otherwise ma de available to interested persons in a 
reasonable period of time; 
(b) interested persons are provided with ad equate advance public notice of and the 
opportunity to comment on any rulemaking proposed by the telecommunications 
regulatory body11-4; and   
(c) its measures relating to public telecommunications transport network or services are 
made publicly available, including: 
(i) tariffs and other terms and conditions of service; 
(ii) specifications of technical interfaces; 
(iii) conditions applying to attachment of terminal or other equipment to the 
public telecommunications transport network; 
(iv) notification, permit, registration, or  licensing requirements, if any; and 
(v) information on bodies responsible for preparing, amending, and  adopting 
standards- related measures is  made publicly available. 
Article 11.12 
 
Relation To Other Chapters  
 In the event of any inconsistency between this Chapter and another Chapter in this 
Agreement, this Chapter shall prevail to the extent of the inconsistency. 
 
Article 11.13 
 
Relation To International Or ganisations And Agreements  
 The Parties recognise the importance of intern ational standards for global compatibility and 
inter-operability of telecommunica tion networks or services and undertake to promote those standards 
through the work of relevant international bodi es, including the International Telecommunication 
Union and the International Orga nization for Standardization. 
 
 
  
 
 
                                                     
 
11-4 The obligations under paragraph (b) will be app lied in accordance with each Party’s domestic laws 
and regulations.  WT/REG210/1 
 Page 69 
 
 
CHAPTER 12:  FINANCIAL SERVICES 
 
Article 12.1 
 
Scope And Coverage  
1. This Chapter applies to measures adopted  or maintained by a Party relating to: 
  
(a) financial institutions of the other Party; 
(b) investors of the other Party, and investments of such investors, in financial 
institutions in the Party’s territory; and 
(c) trade in financial services. 
2. Chapters 9 (Cross-Border Trade in Services)  and 10 (Investment) apply to measures described 
in paragraph 1 only to the extent that such Chapters  or Articles of such Chapte rs are incorporated into 
this Chapter. For this purpose: 
 
(a) Articles 9.12, 9.15, 10.11, 10.12, 10.13, 10.16, 10.17 and 10.18 are hereby 
incorporated into and made a part of this Chapter;  
(b) As for Articles 9.16 and 10.12, in the even t of any inconsistency between Chapter 9 
(Cross-Border Trade in Services) and Chap ter 10 (Investment) in this Agreement, 
Chapter 10 shall prevail to the ex tent of the inconsistency; and 
(c) Section C of Chapter 10 (Investment) is hereby  incorporated into and made a part of 
this Chapter solely for claims that a Pa rty has breached Articles 10.11, 10.13, 10.16 
and 10.17, as incorporated into this Chapter.   
3. This Chapter does not apply to measures adopt ed or maintained by a Party relating to: 
(a) activities conducted by a central bank or monetary authority or by any other public 
entity in pursuit of monetary or exchange rate policies;  
(b) activities or services forming part of a public retirement plan or statutory system of 
social security; or 
(c) activities or services conducted for the account  or with the guarantee or using the 
financial resources of the Party, including its public entities,  
 except that this Chapter shall apply if a Part y allows any of the activities or services referred 
to in subparagraphs (a), (b) or (c) to be conducted by its financia l institutions in competition with a 
public entity or a financial institution.   
 4. This Chapter does not apply to laws, regula tions or requirements governing the procurement 
by government agencies of financial services pur chased for governmental purposes and not with a 
view to commercial resale or use in the supply of services for commercial sale. 
 
Article 12.2 
 
National Treatment
 
1. In the sectors inscribed in its Schedule in  Annex 12A, and subject to any conditions and WT/REG210/1 
Page 70  
 
  qualifications set out therein, each Party shall acc ord to financial services and financial service 
suppliers of the other Party, in like circumstance, in respect of all measures affecting the supply of 
financial services, treatment no less favourable than that it accords to its own like financial services 
and financial service suppliers.   
 2. In the sectors inscribed in its Schedule in  Annex 12A, and subject to any conditions and 
qualifications set out therein, each Party shall accord  to the investors of the other Party, in like 
circumstances, in respect of the establishment, acquisition, e xpansion, manage ment, conduct, 
operation and sale or other disposition of financial in stitutions and investments in financial institutions 
in its territory, treatment no less favourable th an that it accords to its own like investors. 
 
3. In the sectors inscribed in its Schedule in  Annex 12A, and subject to any conditions and 
qualifications set out therein, each Party shall accord to the financial institutions  of the other Party and 
to investments of investors of the other Party in fi nancial institutions, in like circumstances, in respect 
of establishment, acquisition, expansion, ma nagement, conduct, opera tion and sale or other 
disposition of financial institutions and investments,  treatment no less favourable than that it accords 
to its own like financial institutions, and to i nvestments of its own like investors in financial 
institutions. 
 4. A Party may meet the requirement of paragraphs  1, 2 and 3 by according to financial services 
and financial service suppliers of the other Party, inv estors of the other Party, financial institutions of 
the other Party and to investments of investors of the other Party in financial institutions, as the case 
may be, in like circumstance, either formally identical  treatment or formally different treatment to that 
it accords to its own like financial services and financ ial service suppliers, its own like investors, its 
own like financial institutions and investments of its own like investors in financial institutions, 
respectively.   
 5. Formally identical or formally different treatme nt shall be considered to be less favourable if 
it modifies the conditions of competition in favour of financial services and financial service suppliers 
of a Party, investors of a Party, financial institutions of a Party and to investments of investors of a Party in financial institutions compared to like fina ncial services or financial service suppliers of the 
other Party, like investors of the other Party, like financial institutions of the other Party and 
investments of like investors of the other Party in financial institutions in like circumstance. 
 
Article 12.3 
 
Market Access
 
1. With respect to market access through the mod es of supply identified in the definition of trade 
in financial services in Article 12.15, each Party sh all accord financial services and financial service 
suppliers of the other Party treatment no less favo urable than that provided for under the terms, 
limitations and conditions agreed and sp ecified in its schedule in Annex 12A. 
 
2. In sectors where market-access commitments  are undertaken, the measures which a Party 
shall not maintain or adopt either on the basis of  regional subdivision or on the basis of its entire 
territory, unless otherwise specified in its  Schedule in Annex 12A, are defined as:  
 
(a) limitations on the number of financial ins titutions whether in the form of numerical 
quotas, monopolies, exclusive service providers or the requirements of an economic 
needs test; 
(b) limitations on the total value of financial service transactions or assets in the form of 
numerical quotas or the requirement of an economic needs test;  WT/REG210/1 
 Page 71 
 
 
(c) limitations on the total number of financial service operations or the total quantity of 
financial services output expressed in terms of designated numerical units in the form of quotas or the requirement of an economic needs test; 
(d) limitations on the total number of natura l persons that may be employed in a 
particular financial service sector or that a financial institution may employ and who 
are necessary for, and directly related to, th e supply of a specific financial service in 
the form of a numerical quota or the requirement of an economic needs test;  
(e) measures which restrict or require specific types of legal entity or joint venture 
through which a financial institution may supply a service; and 
(f) limitations on the participation of forei gn capital in terms of maximum percentage 
limit on foreign shareholding or the total value of individual or aggregate foreign 
investment. 
Article 12.4 
 
Schedule Of Specific Commitments
 
1. Each Party shall set out in a schedul e the specific commitme nts it undertakes under 
Articles 12.2 and 12.3. With respect to sectors where such commitments are undertaken, each Schedule shall specify:  
(a) terms, limitations and conditions on market access; 
(b) conditions and qualificatio ns on national treatment; 
(c) undertakings relating to additional commitments; 
(d) where appropriate, the time-frame for implementation of such commitments. 
2. Measures inconsistent with both Articles 12. 2 and 12.3 shall be inscribed in the column 
relating to Article 12.3 .  In this case the inscription will be co nsidered to provide a condition or 
qualification to Article 12.2 as well. 
 
3. Schedules of specific commitments shall be annexed to this Agreement as Annex 12A and 
shall form an integral part thereof.  
Article 12.5 
 
Transparency
 
1. Each Party commits to promote regulatory tran sparency in financial services.  Accordingly, 
the Parties shall consult with the goal of promo ting objective and transparent regulatory processes in 
each Party, taking into account: 
 
(a) the work undertaken by the Parties in GA TS and the Parties’ work in other fora 
relating to trade in financial services; and 
(b) the importance of regulatory transparency of identifiable policy objectives and clear 
and consistently applied regulatory processes that are communicated or otherwise made available to the public. WT/REG210/1 
Page 72  
 
  2. Each Party shall publish promptly and, except in  emergency situations, at latest by the time of 
their entry into force, all relevant regulatory measur es of general application which pertain to or affect 
the operation of this Agreement. International agreem ents pertaining to or affecting trade in financial 
services to which a Party is a signatory shall also be published. 
 3. Where publication as referred to paragraph 2 is not practicable, such information shall be 
made otherwise publicly available.   
 
4. Each Party shall respond promptly to all requests by the other Party for specific information 
of its regulatory measures of general application  or international agreements within the meaning of 
paragraph 2.  Each Party shall also establish one or more enquiry points to provide specific 
information to the other Party, upon request, on all such matters. 
 
Article 12.6 
 
Exceptions
 
1. Nothing in this Agreement sh all be construed to prevent a Party from adopting or maintaining 
measures for prudential reasons, including for the prot ection of investors, depositors, policy holders or 
persons to whom a fiduciary duty is owed by a financial service supplier, or to ensure the integrity and 
stability of a Party’s financial system.  Where such  measures do not conform with the provisions of 
this Agreement, they shall not be used as a means of avoiding the Party’s commitments or obligations 
under such provisions. 
 2. Nothing in this Chapter or Chapters 10 (Investment), 11 (Telecommunications), or 14 (Electronic Commerce) applies to non-discriminator y measures of general application taken by any 
public entity in pursuit of monetary and related cr edit policies or exchange rate policies. This 
paragraph shall not affect a Party’s obliga tions under Article 9.15, 10.7 or 10.11. 
 3. Notwithstanding Articles 9.15 and 10.11, as incorporated into this Chapter, a Party may prevent or limit transfers by a financial institution or  financial service supplier to, or for the benefit of, 
an affiliate of or a person related to such in stitution or supplier, through the equitable, non-
discriminatory and good faith application of measures relating to maintenance of the safety, 
soundness, integrity or financial responsibility of fi nancial institutions or financial service suppliers. 
This paragraph does not prejudice any other provisi on of this Agreement that permits a Party to 
restrict transfers.  4.   For greater certainty, nothing in this Chap ter shall be construed to prevent the adoption or 
enforcement by a Party of measures necessary to secu re compliance with laws or regulations that are 
not inconsistent with this Chapter including t hose relating to the prevention of deceptive and 
fraudulent practices or to deal with the effects of a default on financial services  contracts, subject to 
the requirement that such measures are not applie d in a manner which would constitute a means of 
arbitrary or unjustifiable discrimination between  countries where like conditions prevail, or a 
disguised restriction on investment in financial ins titutions or cross-border trade in financial services. 
 
Article 12.7 
 
Domestic Regulation
 
 In sectors where specific commitments are undertaken in its schedule to Annex 12A  each 
Party shall ensure that all measures of general application to which this Chapter applies are 
administered in a reasonable, objective and impartial manner.   WT/REG210/1 
 Page 73 
 
 
Article 12.8 
 
Treatment Of Certain Information  
Nothing in this Chapter shall require a Party to  furnish confidential information, the disclosure 
of which would impede law enforcem ent or otherwise be contrary to the public interest, or which 
would prejudice legitimate commercial interests of particular enterprises, public or private. 
 
Article 12.9 
 
Recognition  
1. A Party may recognise the prudential measure s of any international regulatory body or non-
Party in determining how the Party’s measures relati ng to financial services shall be applied. Such 
recognition, which may be achieved through harm onisation or otherwise, may be based upon an 
agreement or arrangement with the international regulatory body or non-Party concerned or may be 
accorded autonomously. 
2. A Party that is a party to such an agreem ent or arrangement referre d to in paragraph 1, 
whether future or existing, shall afford adequate  opportunity for the other Party to negotiate its 
accession to such agreements or arrangements, or  to negotiate comparable ones with it, under 
circumstances in which there would be equivalent  regulation, oversight, implementation of such 
regulation, and if appropriate, procedures concerning the sharing of information between the parties to 
the agreement or arrangement. Where a Party ac cords recognition autonomously, it shall afford 
adequate opportunity for the other Party to de monstrate that such circumstances exist.   
Article 12.10 
 
Financial Services Committee  
1. The Parties hereby establish a Financial Se rvices Committee. The principal representative of 
each Party shall be an official of the Party’ s authority responsible for financial services. 
 2. The Financial Services Committee shall: 
 
(a) supervise the implementation of this  Chapter and its further elaboration; 
 
(b) consider issues regarding financial servi ces that are referred to it by a Party; and 
 (c) participate in the dispute settlement pr ocedures in accordance with Article 12.12. 
 3. The Financial Services Committee shall meet one  year after this Agreement has entered into 
force and thereafter as otherwise agreed by both Pa rties, to assess the functi oning of this Agreement 
as it applies to financial services.    
Article 12.11 
 
Consultations
 
1. A Party may request consultations with the other Party regarding any matter arising under this 
Agreement that affects financial services. The other Party shall give sympathetic consideration to the 
request. The Parties shall report the results of thei r consultations to the Financial Services Committee. WT/REG210/1 
Page 74  
 
  2. Consultation under this Article shall include offici als of the authority responsible for financial 
services. 
Article 12.12 
 
Dispute Settlement
 
1. Relevant Articles in Chapter 20 (Dispute Settlement ) applies as modified by this Article to the 
settlement of disputes arising under this Chapter. 2. For the purposes of this Article, consultations held pursuant to Article  12.11 shall be deemed 
to be consultations within the meaning of Article 20.4.    
3. When a Party claims that a dispute arises unde r this Chapter, Article 20.7 shall apply, except 
that:  
(a) where the Parties so agree, the panel shall be composed entirely of panelists meeting 
the qualifications in paragraph 4; 
(b) in any other case, 
(i) each Party may select panelists meeting the qualifications set out in 
paragraph 4 or paragraph 4 of Article 20.7 ; and 
(ii) if the Party complained against invokes Article 12.6, the chair of panel shall 
meet the qualifications set out in paragraph 4, unless the parties agree otherwise. 
4. Financial services panelists shall: 
 
(a) have expertise or experience in financial services law or practice, which may include 
the regulation of financial institutions; 
(b) be chosen strictly on the basis of objec tivity, reliability and sound judgment; and 
(c) meet the qualifications set out in paragr aph 4 and paragraph 4 of Article 20.7. 
5. Notwithstanding Article 20.14, where a panel fi nds a measure to be inconsistent with this 
Agreement and the measure under dispute affects:  
(a) only the financial services sector, the complaining Party may suspend benefits only in 
the financial services sector; 
(b) the financial services sector and any other sector, the complaining Party may suspend 
benefits in the financial services sector that have an effect equivalent to the effect of 
the measure in the Party’s financial services sector; or 
(c) only a sector other than the financial serv ices sector, the complaining Party may not 
suspend benefits in the financial services sector. 
 
    WT/REG210/1 
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Article 12.13 
 
Investment Disputes In Financial Services  
1.  Where an investor of a Party submits a claim under Section C in Chapter 10 (Investment) 
against the other Party and the respondent invokes Ar ticle 10.12 or 12.6, on request of the respondent, 
the tribunal shall refer the matter in writing to the Financial Services Committee for a decision. The 
tribunal may not proceed pending receipt of a decision or report under this Article. 
 2. In a referral pursuant to paragraph 1, the Fi nancial Services Committee shall decide the issue 
of whether and to what extent Article 10.12 or 12.6 is a valid defence to the claim of the investor. The 
Financial Services Committee shall transmit a copy of its decision to the tribunal. The decision shall 
be binding on the tribunal.  3. Where the Financial Services Committee has not decided the issue within sixty (60) days of 
the receipt of the referral under paragraph 1, the r espondent or the Party of the claimant may request 
the establishment of a panel under relevant Article s in Chapter 20 (Dispute Settlement).  The panel 
shall be constituted in accordance with Article 12.12.  The panel shall transmit its final report to the 
Financial Services Committee and to the tribunal.  The report shall be binding on the tribunal. 
 4. Where no request for the establishment of a panel pursuant to paragraph 3 has been made 
within ten (10) days of the expiration of the 60-da y period referred to in paragraph 3, a tribunal may 
proceed to decide the matter. 
 5. For the purposes of this Article, tribuna l means a tribunal established pursuant to 
Article 10.19. 
 
Article 12.14 
 
Modification Of Schedules
 
 The Parties shall, on the request in writing by e ither Party, hold consultations to consider any 
modification or withdrawal of a commitment in the Schedule of specific commitments on trade in 
financial services. Such consultations shall be held  within three months after the requesting Party 
makes such a request. In such cons ultations, the Parties shall aim to ensure that a general level of 
mutually advantageous commitments not less favour able to trade than that provided for in the 
Schedule of specific commitments in Annex 12A prior to such consultations is maintained. 
 
Article 12.15 
 
Definitions  
 For the purposes of this Chapter: 
  trade in financial services  means the supply of a financial service: 
 
(a) from the territory of a Party into the territory of the other Party; 
(b) in the territory of a Party by a person of that Party to the financial service consumer 
of the other Party; 
(c) by a financial service supplier of a Party, through commercial presence in the 
territory of the other Party; WT/REG210/1 
Page 76  
 
  (d) by a financial service supplier of a Party, through presence of natu ral persons of that 
Party in the territory of the other Party; 
 commercial presence  means any type of business or professional establishment, including 
through: 
 
(a) the constitution, acquisition or mainte nance of a juridical person; or  
(b) the creation or maintenance of a branch or a representative office, within the territory 
of a Party for the purpose of supplying a service; 
 financial institution means any financial intermediary or ot her institution, that is authorised 
to do business and regulated or supervised as a fi nancial institution under th e law of the Party in 
whose territory it is located;  
 financial institution of the other Party means a financial institution, including a branch, 
located in the territory of a Party that is  controlled by persons of the other Party; 
 
 financial service  means a service of a financial nature, including insurance, and a service 
incidental or auxiliary to a service of a financial nature. Financial services shall include the activities 
as stated in Annex 12B; 
 
 financial service consumer  means any person that receives or uses a financial service; 
 
 financial service supplier of a Party  means any natural or juridi cal person authorised by the 
law of a Party that is engaged in the business of supplying financial services through the trade in 
financial services;  
 investment means “investment” as defined in Chap ter 10 (Investment), except that, with 
respect to “loans” and “debt instrume nts” referred to in that Chapter: 
 
(a) a loan to or debt instrument issued by a financial institution is an investment only 
where it is treated as regulatory capital by th e Party in whose territory the institution 
is located; and 
(b) a loan granted by or debt instrument owne d by a financial institution, other than a 
loan to or debt instrument of a financial institution referred to in  subparagraph (a), is 
not an investment; 
 investor of a Party  means a Party or state enterprise thereof, or a person of that Party, that 
attempts to make, is making, or has made an invest ment in the territory of the other Party; provided, 
however, that a natural person who is a dual national shall be deemed to be exclusively a national of 
the State of his/her dominant and effective nationality; 
  juridical person  means any legal entity duly constitu ted or otherwise organised under 
applicable law, whether for profit or otherwise,  and whether privately-owned or governmentally-
owned, including any corporation, tr ust, partnership, joint venture, sole proprietorship or association, 
or a branch of a financial institution constituted or otherwise organised under the law of a non-Party 
that is registered or set up in the territory of a Party and carrying out business activities there ;  
  juridical person of the other Party  means a juridical person which is either: 
  WT/REG210/1 
 Page 77 
 
 
(a) constituted or otherwise organised under the law of the other Party and, for greater 
certainty, includes a branch of a financial in stitution of a non-Party; and is engaged in 
substantive business operations in the territory of the other Party; or 
(b) in the case of the supply of a service through commercial presence, owned or 
controlled by:  
(i) natural persons of the other Party; or 
(ii) juridical persons of the other Party identified under subparagraph (a); 
 natural person of a Party  means a natural person who resides in the territory of the Party or 
elsewhere and who under the law of that Party: 
 
(a) is a national of that Party; or 
(b) has the right of permanent residence in that Party; 
 person of a Party  means either a natural person or a juridical person; 
 
 public entity  means: 
 
(a) a government, a central bank or a monetary aut hority of a Party, or an entity owned or 
controlled by a Party, that is principa lly engaged in carrying out governmental 
functions or activities for governmental purposes, not including an entity principally 
engaged in supplying financial services on co mmercial terms; for greater certainty, a 
public entity shall not be considered a d esignated monopoly or a public enterprise for 
purposes of Chapter 15 (Competition); or 
(b) a private entity, performing functions normally performed by a central bank or 
monetary authority, when exercising those functions; 
 authority responsible for financial services  means: 
 
(a) for Korea, the Ministry of Finance and Economy; and 
(b) for Singapore, the Monetary Authority of Singapore. 
 
CHAPTER 13: TEMPORARY ENTRY OF BUSINESS PERSONS 
 
Article 13.1 
 
Definitions  
 For the purposes of this Chapter : 
 
 business person  means a national  of a Party who is engaged in trade in goods, the provision 
of services or the conduct of investment activities;   
 business visitors  means nationals of either Party who are:  
 
(a) service sellers; WT/REG210/1 
Page 78  
 
  (b) short-term service suppliers; 
(c) investors of a Party or employees of an investor who are managers, executives or 
specialists as defined in relation to intra-corporate transferees in a Party’s Schedule of Specific Commitments to GATS seeking tem porary entry to establish an investment; 
or  
(d) seeking temporary entry for the purposes of negotiating the sale of goods where such 
negotiations do not involve direct sales to the general public; 
 service seller  means a national of a Party who is a sales representative of a service supplier of 
that Party and is seeking temporary entry to the other Party for the purpose of negotiating the sale of 
services for that service supplier, where such a representative will not be engaged in making direct 
sales to the general public or in supplying services directly;  
  short-term service suppliers  means persons who:  
 
(a) are employees of a service supplier or an enterprise of a Party not having a 
commercial presence or investment in the other Party, which has concluded a service 
contract with a service supplier or an en terprise engaged in substantive business 
operations in the other Party;  
(b) have been employees of the service supplier or enterprise for a time period of not less 
than one year immediately preceding an application for admission for temporary entry;  
(c) are managers, executives or specialists as defined in relation to intra-corporate 
transferees in a Party’s Schedule of Specific Commitments to GATS;  
(d) are seeking temporary entry to the other Party for the purpose of providing a service 
as a professional in the following service sectors on behalf of the service supplier or enterprise which employs them: 
(i) professional services;   
(ii) computer and related services;  
(iii) telecommunication services;   
(iv) financial services; or  
(v) tour guides and translators; and 
(e) satisfy any other requirements under the dom estic laws and regulations of the other 
Party to provide such services in th e territory of that Party; and 
 temporary entry  means entry into the territory of a Party by a business person of the other 
Party without the intent to establish permanent residence. 
 
     WT/REG210/1 
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Article 13.2 
 
General Principles  
1. Further to Article 1.2, this Chapter reflect s the preferential trading relationship between the 
Parties, the Parties’ mutual desire to facilitate te mporary entry on a comparable basis and to establish 
transparent criteria and procedures for temporary entr y, and the need to ensure border security and to 
protect the domestic labour force and permanen t employment in their respective territories. 
2.    This Chapter shall not apply to measures  regarding nationality or citizenship, residence on a 
permanent basis or employment on a permanent basis.   
 
Article 13.3 
 
General Obligations  
1. Each Party shall apply its measures relating to the provisions of th is Chapter in accordance 
with Article 13.2 and, in particular, shall apply expeditiously those measures so as to avoid unduly 
impairing or delaying trade in goods or servi ces or conduct of investment activities under this 
Agreement. 
 
2. The Parties shall endeavour to develop and adopt common definitions and interpretations for 
the implementation of this Chapter.  
 
3. Nothing in this Chapter shall prevent a Part y from applying measures to regulate the entry of 
business persons into, or their temporary stay in, its territory, including those measures necessary to 
protect the integrity of its borders, and to ensure  the orderly movement of business persons across its 
borders, provided that such measures are not applied in such a manner as to nullify or impair the commitments made by a Party.  The mere require ment of a visa or other document authorising 
employment shall not be regarded as nullifying or impairing the commitments made by a Party under 
this Agreement. 
 
Article 13.4 
 
Grant Of Temporary Entry
 
1. In accordance with this Chapter and s ubject to the provisions of Annex 13A and 
Appendix 13A.1, each Party shall grant temporary entry to business persons who are otherwise 
qualified for entry under applicable measures relatin g to public health, safety and national security. 
 2. A Party may refuse to issue an immigration document authorising employment to a business person where the temporary entry of that person might affect adversely:  
(a) the settlement of any labour dispute that is  in progress at the place or intended place 
of employment; or  
(b) the employment of any person who is involved in such dispute. 
3. When a Party refuses pursuant to paragraph 2 to issue an i mmigration document authorising 
employment, it shall:  
  WT/REG210/1 
Page 80  
 
  (a) take measures to allow the business person to  be informed in writing of the reasons 
for the refusal; and  
(b) promptly notify the other Party in writing of the reasons for the refusal. 
4. Each Party may set any fees for processing applications for temporary entry of business 
persons in a manner that is cons istent with its obligations whic h are set out in this Chapter. 
Article 13.5 
 
Provision Of Information
 
 
Further to Article 19.2, each Party shall:  
 
(a) provide to the other Party such materials as will enable the other Party to  become 
acquainted with its own measures re lating to this Chapter; and  
(b) no later than six (6) months after the date of entry into force of this Agreement, 
publish or otherwise make available in its own territory, and in the territory of the 
other Party, explanatory material regard ing the requirements for temporary entry 
under this Chapter in such a manner as will enable business persons of the other Party 
to become acquainted with them. 
Article 13.6 
 
Dispute Settlement  
1. A Party may not initiate pro ceedings under Article 20.6 regarding a refusal to grant temporary 
entry under this Chapter or a particul ar case arising under Article 13.2 unless:  
(a) the matter involves a pattern of practice; and  
(b) the business person has exhausted the availa ble administrative remedies regarding the 
particular matter. 
2. The remedies referred to in paragraph 1(b) shall be deemed to be exhausted if a final 
determination in the matter has not been issued by the competent authority within six (6) months of 
the institution of an administrative proceeding, a nd the failure to issue a determination is not 
attributable to delay caused by the business person. 
Article 13.7  
 
Relation To Other Chapters  
 Except for this Chapter, Chapters 1(General Provisions), 2(General Definitions), 20(Dispute 
Settlement) and 22(Administration and Final Provisions ), and Articles 19.2, 19.3 and 19.4, nothing in 
this Agreement shall impose any obligation on a Party regarding its immigration measures.  
  
    WT/REG210/1 
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CHAPTER 14:  ELECTRONIC COMMERCE 
 
Article 14.1 
 
Definitions  
 For the purposes of this Chapter:  digital products  means computer programmes, text, video, images, sound recordings and 
other product that are digitally enc oded, regardless of whether they are fixed on a carrier medium or 
transmitted electronically
14-1; 
 
 carrier medium means any physical object capable of storing a digital product by any 
method now known or later devel oped, and from which a digital product can be perceived, 
reproduced, or communicated, directly or indirectly , and includes, but is not limited to, an optical 
medium, a floppy disk, or a magnetic tape; 
 
 electronic transmission or transmitted electronically means the transfer of digital products 
using any electromagnetic or photonic means; and   using electronic means employing computer and digital processing.  
 
Article 14.2 
 
Scope
 
1. The Parties recognise the economic growth a nd opportunity provided by electronic commerce 
the importance of avoiding unnecessary barriers to electronic commerce and the applicability of WTO 
rules to electronic commerce. 
 2. This Chapter does not apply to measures affecting the electronic transmission of a series of text, video, images, sound recordings, and other pr oducts scheduled by a content provider for aural 
and/or visual reception, and for which the conten t consumer has no choice ove r the scheduling of the 
series. 
 
Article 14.3 
 
Electronic Supply Of Services
 
 For greater certainty, the Parties affirm that measures related to the supply of a service using 
electronic means fall within the sco pe of the obligations contained in the relevant provisions of 
Chapters 9 (Cross-Border Trade in Services), 10 (Investment) and 12 (Financial Services), and, 
subject to any exceptions applicable to such ob ligations and except where an obligation does not 
apply to any such measure pursuant to Articles 9.6 and 10.9. 
 
 
    
 
 
                                                     
 
14-1 For greater clarity, digital products do not include digitised representations of financial instruments. WT/REG210/1 
Page 82  
 
  Article 14.4 
 
Digital Products
 
1.  Each Party shall not apply customs duties or other duties, fees, or charges on or in connection 
with the importation or exportation of a digi tal product of the other Party by electronic 
transmission14-2. 
2. Each Party shall determine the customs value of an imported carrier medium bearing a digital 
product in accordance with the Customs Valuation Agreement.  3.  A Party shall not accord less favourable treatme nt to a digital product than it accords to other 
like digital products: 
 
(a) on the basis that: 
(i) the digital product receiving less favourable treatment is created, produced, 
published, stored, transmitted, contracted for, commissioned, or first made 
available on commercial terms in the territory of the other Party; or 
(ii) the author, performer, producer, developer, or distributor of such digital 
product is a person of the other Party, 
 or  
 
(b) so as otherwise to afford protection to the other like digital products that are created, 
produced, published, stored, transmitted, cont racted for, commissioned, or first made 
available on commercial terms, in its territory. 
4.  Paragraph 3 does not apply to any non-c onforming measure described in Articles 9.6 and 
10.9.  
CHAPTER 15:  COMPETITION 
 
Article 15.1 
 
Purpose And Definitions
 
1. The purpose of this Chapter is to contribut e to the fulfillment of the objectives of this 
Agreement through the promotion of fair comp etition and the curtailment of anti-competitive 
practices. 
 
2. For the purposes of this Chapter, anti- competitive practices means business conduct or 
transactions that adversely affect competition, such as:  
(a) anti-competitive horizontal arrangements between competitors; 
(b) misuse of market power; 
(c) anti-competitive vertical arrangements between businesses; and 
(d) anti-competitive mergers and acquisitions. 
                                                     
 
14-2  Paragraph 1 does not preclude a Party from imposing internal taxes or other internal charges 
provided that these are imposed in a manner consistent with this Agreement.  WT/REG210/1 
 Page 83 
 
 
Article 15.2 
 
Promotion Of Competition  
1. Each Party shall promote competition by addr essing anti-competitive practices in its territory, 
adopting and enforcing such means or measures as it deems appropriate and effective to counter such 
practices. 
 2. Such means and measures may include the implementation of competition and regulatory 
arrangements.  
Article 15.3 
 
Application Of Competition Laws
 
1. The Parties shall ensure that all businesses re gistered or incorporated under their respective 
domestic laws are subject to such generic or releva nt sectoral competition laws as may be in force in 
their respective territories.  
 2. Any measures taken by a Pa rty to proscribe anti-competitive practices, and the enforcement 
actions taken pursuant to those measures, shall be consistent with the principles of transparency, 
timeliness, non-discrimination and procedural fairness.  
Article 15.4 
 
Competitive Neutrality
 
1. Each Party shall take reasonable measures to ensure that its government does not provide any 
competitive advantage to any government-owned  businesses in their business activities simply 
because they are government-owned.  
 2. This Article applies to the business activ ities of government-owned businesses and not to 
their non-business and non-commercial activities. 
 
Article 15.5 
 
Consultations
 
1. At the request of a Party, the Parties shall en ter into consultations regarding matters that may 
arise under this Chapter, including the elimination of  particular anti-competitive practices that affect 
trade or investment between the Parties. 
 
2. During the consultations under this Article, each  Party shall endeavour to provide relevant 
information to the other Party in order to facilitate  the discussion regarding the relevant aspects of the 
matter which is the subject of consultations.  3. Any information or documents exchanged be tween the Parties in relation to any mutual 
consultations under this Chapter sh all be kept confidential.   
 
 
  
 
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  Article 15.6 
 
Co-Operation
 
1. The Parties recognise the importance of co -operation and co-ordination between their 
competition authorities for effective competition law enforcement in both Parties. 
 
2. Within six (6) months from the coming into effect of a generic competition law in Singapore, 
the Parties shall consult with a view to maki ng a separate arrangement between their competition 
authorities regarding the scope and conten t of co-operation and co-ordination.  
 
Article 15.7 
 
Transparency  
The Parties shall publish or otherwise make publicly available their laws addressing fair 
competition, including information on any exemptions provided under such laws. 
 
Article 15.8  
 
Dispute Resolution  
1. Nothing in this Chapter permits a Party to re-open, re-examine or to challenge under any 
dispute settlement procedure under this Agreement, any finding, determination or decision made by a 
competition authority of the other Party in enforcing the applicable competition laws and regulations.   
 
2. Neither Party shall have recourse to any di spute settlement procedures under this Agreement 
for any issue arising from or relating to this Chapter.   3. In the event of any inconsistency or conflic t between any provision in this Chapter and any 
provision contained in any other Chapter of this Ag reement, the latter shall prevail to the extent of 
such inconsistency or conflict.   
CHAPTER 16:  GOVERNMENT PROCUREMENT 
 
Article 16.1 
 
General
 
1. The Parties reaffirm their rights and obligations under the WTO Agreement on Government 
Procurement (“GPA”) and their interest in furthe r expanding bilateral trading opportunities in each 
Party’s government procurement market.  2. The Parties recognise their shared interest in promoting international liberalisation of government procurement markets in the context of the rules-based international trading system. The 
Parties shall continue to co-operate in the review  under paragraph 7 of Article XXIV of the GPA and 
on procurement matters in the APEC and other appropriate international fora.  
 3. Nothing in this Chapter shall be construed to derogate from eith er Party’s rights or obligations 
under the GPA.   WT/REG210/1 
 Page 85 
 
 
4. The Parties confirm their desire and determin ation to apply the APEC Non-Binding Principles 
on Government Procurement, as appropriate, to all their government procurement that is outside the 
scope of the GPA and this Chapter.  
Article 16.2 
 
Scope And Coverage
 
1. This Chapter applies to any law, regulation,  procedure or practice re garding any procurement 
by entities covered by this Chapte r, as specified in Appendix 16A.1. 
 
2. For the purpose of this Chapter, a covere d government procurement means a procurement: 
 
(a) by an entity specified in a Party’s Appendix 16A.1; 
(b) by any contractual means, including th rough such methods as purchase or as lease, 
rental or hire purchase, with or without option to buy, of goods or services or any 
combination of goods and services specified in a Party’s Appendix 16A.2;  and 
(c) in which the contract has a value not less than the relevant thresholds set out in 
Annex 16A. 
3. Except as otherwise specified in the Annexes, this Chapter does not cover non-contractual 
agreements or any form of governmental assistance, including co-operative agreements, grants, loans, 
equity infusions, guarantees, fiscal incentives, and governmental provision of products and services to 
persons or governmental authorities not specifically  covered under the schedules to this Chapter. 
 4.  In accordance with paragraph 3 of Article III of the GPA, the provisions of this Chapter do 
not affect the rights and obligations provided for in  Chapter 3 (National Treatment and Market Access 
for Goods), Chapter 9 (Cross-Border Trade in Services), Chapter 10 (Investment), Chapter 11 
(Telecommunications) and Chapter 12 (Financial Services). 
 
Article 16.3 
 
Incorporation Of GPA Provisions
 
1. The Parties shall apply the provisions of Artic les II-IV, VI-XV, XVI:1, XVIII, XIX:1-4, XX, 
XXIII, Agreement Notes and Appendices II-IV of th e GPA to all covered government procurement. 
To that end, these Articles, Notes and Appendices of the GPA are incorporated into and made part of 
this Chapter, mutatis mutandis .  
 2. For the purposes of the incorporation of  the GPA under paragraph 1, the term: 
 
(a) Agreement  in the GPA means “Chapter” except that countries not Parties to this 
Agreement  means non-Parties  and Party to the Agreement  in GPA Article III:2(b) 
means Party ; 
(b) Appendix I  in the GPA means Annex 16A ; 
(c) Appendix II  in the GPA means Annex 16B ; 
(d) Annex 1  in the GPA means Appendix 16A.1 of Schedule 1 of Annex 16A ;  
(e) Annex 2  in the GPA means Appendix 16A.1 of Schedule 2 of Annex 16A ;   WT/REG210/1 
Page 86  
 
  (f) Annex 3  in the GPA means Appendix 16A.1 of Schedule 3 of Annex 16A ; 
(g) Annex 4  in the GPA means Appendix 16A.1 of Schedule 2 of Annex 16A ; 
(h) Annex 5 in the GPA means Appendix 16A.1 of Schedule 3 of Annex 16A ;  
(i) any other Party  in Article III:1(b) of the GPA means a non-Party ; 
(j) “from other Parties ” in Article IV:1 of the GPA means from the other Party ; 
(k) among suppliers of other Parties or  in Article VIII of the GPA shall not be 
incorporated; and 
(l) products  in the GPA means goods . 
3. Where entities specified in Annex 16A, in the context of procurement covered under this 
Chapter, require enterprises not included in A nnex 16A to award contracts in accordance with 
particular requirements, Article III of the GPA shall apply mutatis mutandis  to such requirements. 
 4. If the GPA is amended or is superseded by another agreement, the Parties shall amend this 
Chapter, as appropriate, after consultations.  
Article 16.4 
 
Qualification Of Suppliers
 
 Any conditions for participation in tendering procedures shall be limited to those which are 
essential to ensure the firm's capability to fulf ill the contract in question. Any conditions for 
participation required from suppliers or service pr oviders, including financial guarantees, technical 
qualifications and information necessary for establis hing the financial, commercial and technical 
capacity of suppliers and service providers, as well as the verification of qualifications, shall be no 
less favourable to suppliers and service providers of the other Party than to domestic suppliers and 
service providers. The financial, commercial and te chnical capacity of a supplier or service provider 
shall be judged on the basis both of that supplier' s or service provider's global business activity as well 
as of its activity in the territory of the procurin g entity, taking due account of the legal relationship 
between the supply organisations.  
 
Article 16.5 
 
Information Technology And Co-Operation  
1.  The Parties shall, to the extent possible, endeavour to use electronic means of communication 
to permit efficient dissemination of information on government procurement, particularly as regards 
tender opportunities offered by entities, while resp ecting the principles of transparency and non-
discrimination.   
2. When each Party publishes a notice inviting in terested suppliers to submit tenders for the 
contract in accordance with Article IX of the GPA,  which is incorporated into this Chapter by 
paragraph 1 of Article 16.3, it will use a si ngle point of access specified in Annex 16B. 
 3. The Parties shall endeavour to provide each other with technical co-operation and assistance 
through the exchange of information on the deve lopment of their respective government electronic 
procurement systems.   WT/REG210/1 
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 4. Pursuant to Article IX:8 of the GPA, the procuring entity shall publish a summary notice in 
one of the official languages of the WTO, namely English, French and Spanish. For the purposes of 
this Chapter, the Parties shall endeavour to use English as the language for publishing the notice for 
each case of intended procurement. The notice sha ll contain at least the following information: 
(a) the subject matter of the contract; 
(b) the time limits set for the submission of tenders or an application to be invited to 
tender; and 
(c) the addresses and contacts from which documents relating to the contracts may be 
requested. 
Article 16.6 
 
Publication Of Indicative Procurement Plans  
 Each Party shall encourage its entities to pu blish, as early as possible in the fiscal year, 
information regarding the entity’s indicative procurem ent plans in the   electronic-procurement portal. 
 
Article 16.7 
 
Modifications To Coverage  
1. Where a Party proposes to make minor amendmen ts, rectifications or other modifications of a 
purely formal or minor nature to its Appendices to  Annex 16A, it shall notify the other Party. Such 
amendments, rectifications or modifications shall b ecome effective thirty (30) days from the date of 
notification. The other Party shall not be  entitled to compensatory adjustments. 
 2. Where a Party proposes to make a modifica tion to its Appendices to Annex 16A when the 
business or commercial operations or functions of any of its entities or part thereof is constituted or 
established as an enterprise with a legal entity separ ate and distinct from the government of a Party, 
regardless of whether or not the government holds any shares or interest in such a legal entity, it shall 
notify the other Party. The proposed removal of su ch entity or modification shall become effective 
thirty (30) days from the date of notification. Th e other Party shall not be entitled to compensatory 
adjustments. 
 
3. Where a Party proposes to make a modifica tion for reasons other than those stated in 
paragraphs 1 and 2, it shall notify the other Part y and provide appropriate compensatory adjustments 
in order to maintain a level of coverage comparab le to that existing prior to the modification. The 
proposed modification shall become effective thir ty (30) days from the date of notification. 
 
Article 16.8 
 
Transparency
 
 The Parties shall apply all procurement laws, regulations, procedures and practices 
consistently, fairly and equitably so that their government entities provide transparency to potential 
suppliers. 
 
 
  
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  Article 16.9  
 
Contact Points
 
1. Each Party shall designate a contact point to  facilitate communications between the Parties on 
any matter covered by this Chapter.   
 
2. For the purposes of this Chapter, all communicati ons or notifications to or by a Party shall be 
made through its contact point.   3. For the purposes of this Article, th e contact points of the Parties are: 
 
(a) for Korea, the Ministry of Finance and Economy, or its successor; and  (b) for Singapore, the Ministry of Finance, or its successor.  
 
 
CHAPTER 17:  INTELLECTUAL PROPERTY RIGHTS 
 
Article 17.1 
 
Definition
 
For the purposes of this Chapter: 
 
 intellectual property rights  refer to copyright and related rights, trademarks, geographical 
indications, industrial designs, patents, layout-design s (topographies) of integrated circuits and rights 
in undisclosed information; 
 
 TRIPS Agreement  means the WTO Agreement on Trade-Related Aspects of Intellectual 
Property Rights; 
 
 PCT  means the Patent Cooperation Treaty admini stered by the World Intellectual Property 
Organization; 
 
 ISA  and IPEA  means the International Searching Authority and the International Preliminary 
Examining Authority, respectively, under the PCT; 
 
 IPOS  means the Intellectual Property Office of Singapore; and 
 
 KIPO  means the Korean Intellectual Property Office. 
 
Article 17.2 
 
General Obligations  
 Each Party re-affirms its obligations under th e TRIPS Agreement, and, in accordance with the 
TRIPS Agreement, shall provide adequate and effe ctive protection of intellectual property rights to 
the nationals of the other Party in its territory. 
 
 
   WT/REG210/1 
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Article 17.3 
 
Enforcement  
 The Parties shall, consistent with the TRI PS Agreement, provide for the enforcement of 
intellectual property rights in their respective laws. 
 
Article 17.4 
 
More Extensive Protection  
 Each Party may implement in its domestic la ws more extensive protection of intellectual 
property rights than is required under this Agreement,  provided that such protection is not inconsistent 
with this Agreement and the TRIPS Agreement. 
 
Article 17.5 
 
Co-Operation In The Field Of Intellectual Property  
1. The Parties, recognising the growing importan ce of intellectual property rights as a factor of 
social, economic and cultural development, shall enha nce their co-operation in the field of intellectual 
property. 
 2. The Parties, pursuant to paragraph 1,  may co-operate in the following areas:  
 
(a) international search and internationa l preliminary examination under PCT and 
facilitation of internati onal patenting process; 
(b) promotion of mutual understanding of the ot her Party's intellectual property policies, 
activities, and experiences thereof;  
(c) promotion of education and awareness of intellectual property;  
(d) patent technology, licensing, and market intelligence; and 
(e) plant variety protection including exchange  of technical expertise and knowledge. 
Article 17.6   
 
Designation Of KIPO As An ISA And IPEA Under PCT
 
1. Singapore shall designate KIPO as an IS A and IPEA under the PCT for international 
applications received by IPOS insofar as these a pplications are submitted in the English language. 
 
2. Within three (3) months from the date of th e signature of this Agreement, KIPO and IPOS 
shall conclude a Working Agreement for the detaile d procedures in relation to the designation of 
KIPO as an ISA and IPEA as mentioned in paragraph 1. 
 
Article 17.7  
 
Facilitation Of Patenting Process  
 Singapore shall designate KIPO as a prescribed patent office in accordance with the Patents 
Act (Cap. 221) of Singapore and the regulations ma de thereunder for the purpose of facilitating the WT/REG210/1 
Page 90  
 
  patent process of a patent application filed in Sing apore that corresponds to a patent application filed 
in Korea, where the applicant for that patent a pplication filed in Singapore provides IPOS with the 
necessary information, documents and translation on that corresponding application filed in Korea, as 
required by the Patents Act a nd the regulations thereunder.  
 
Article 17.8 
 
Promotion Of Education And Aware ness Of Intellectual Property
 
 The Parties may jointly undertake education, wo rkshops, and fairs in the field of intellectual 
property for the purposes of contributing to a better understanding of each other's intellectual property 
policies and experiences. 
 
Article 17.9  
 
Joint Committee On Intellectual Property  
1. For the purpose of effective implementation of  this Chapter, a Joint Committee on Intellectual 
Property (“the IP Joint Committee”) shall be estab lished. The functions of the IP Joint Committee 
may include:  
 
(a) overseeing and reviewing the Parties' co-operation under this Chapter;  
(b) providing advice with regard to the Partie s' co-operation under this Chapter;  
(c) considering and recommending new areas of co-operation on matters covered by this 
Chapter; and  
(d) discussing other issues related to intellectual property.  
2. The IP Joint Committee shall be co-chaired by senior officials from both KIPO and IPOS.  
The composition of the IP Joint Committee shall be d ecided in consultation with  the co-chairs, subject 
to mutual agreement between the Parties. The IP Joint Committee may meet at  the same time as when 
the Parties meet for the review under Article 22.1.  
 
CHAPTER 18:  CO-OPERATION 
 
Article 18.1 
 
Non-Application Of Dispute Settlement Provisions
 
 Chapter 20 (Dispute Settlement) shall not apply to any matter or dispute arising under this 
Chapter.  
Article 18.2 
 
Information And Communications Technology
 
Co-operation in the Field of Inform ation and Communications Technology 
 
1. The Parties, recognising the rapid development,  led by the private sector, of Information and 
Communications Technology (“ICT”) and of business practices concerning ICT-related services both  WT/REG210/1 
 Page 91 
 
 
in the domestic and the international contexts, sha ll co-operate to promote the development of ICT 
and ICT-related services with a view to obtaining  the maximum benefit of the use of ICT for the 
Parties. 
 
Forms and Areas of Co-operation  
 2. The forms of co-operation pursuant to paragraph 1 may include the following: 
 
(a) promoting dialogue on policy issues; 
(b) promoting co-operation between the private sectors of the Parties; 
(c) enhancing co-operation in interna tional fora relating to ICT; and 
(d) undertaking other appropriate co-operative activities. 
 
3. The areas of co-operation pursuant to paragraph 1 may include the following: 
 
(a) inter-operability of Public Key Infrastructure (“PKI”); 
(b) development, processing, management, distri bution and trade of digital contents;  
(c) business opportunities in third markets; and 
(d) cross-recognition of professional ICT certification. 
Article 18.3 
 
Electronic Commerce
 
1. The Parties shall encourage co-operation in  research and training activities that would 
enhance the development of electronic commerce, including by sharing best practices on electronic 
commerce development.  
2. Each Party shall maintain domestic legisla tion for electronic authentication that permits 
Parties to an electronic transaction to:  
(a) determine the appropriate authentication technologies and implementation models for 
their electronic transaction, without limiting the recognition of technologies and 
implementation models; and 
(b) have the opportunity to prove in court th at their electronic transaction complies with 
any legal requirement. 
3. The Parties shall work towards mutual r ecognition of digital cer tificates through a cross-
recognition framework at government level b ased on internationally accepted standards. 
 
4. The Parties shall encourage the inter-operab ility of digital certificates in the business sector. 
 
 
  
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  Article 18.4 
 
Science & Technology
 
1. The Parties, recognising the importance of science and technology in their respective 
economies, shall develop and promote co-operative activities in the field of science and technology. 
2. The Parties shall encourage, where appropria te, the co-operative activities between the private 
sectors of the Parties in the field of science and technology.   3. The co-operation under this Article may include the following forms:  
(a) exchange of scientists, researchers, technicians and experts; 
(b) exchange of documentation and information of a scientific and technological nature; 
(c) joint organisation of seminars, symposia, conferences and other scientific and 
technological meetings; 
(d) implementation of joint research and deve lopment activities in fields of mutual 
interest as well as exchange of the results of such research and development 
activities;  
(e) co-operation in the commercialisation of th e results of scientific and technological 
activities; and 
(f) any other form of scientific and technological co-operation agreed upon by the 
Parties. 
4. The co-operation under this Article  may include the following areas:  
 
(a) biotechnology; 
(b) nanotechnology; 
(c) electronics; 
(d) microelectronics; 
(e) new materials; 
(f) information technology; 
(g) manufacturing technology; 
(h) environmental technology; and 
(i) science and technology (“S&T”) policy an d research and development (“R&D”) 
systems. 
 
   WT/REG210/1 
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Article 18.5 
 
Financial Services  
Regulatory Co-operation 
 
1. The Parties shall promote regulatory co-operati on in the field of financial services, with a 
view to: 
 
(a) implementing sound prudential policies, a nd enhancing effectiv e supervision of 
financial institutions of either Party opera ting in the territory of the other Party; 
(b) responding properly to issues relating to globalisation in financial services, including 
those provided by electronic means; 
(c) maintaining an environment that does not  stifle legitimate financial market 
innovations; and 
(d) conducting oversight of global financial institu tions to minimise systemic risks and to 
limit contagion effects in the event of crisis. 
2. As a part of the regulatory co-operation set out  in paragraph 1, the Parties shall, in accordance 
with their respective laws and regulations, co-ope rate in sharing information on their respective 
securities markets and securities derivatives markets, fo r the purpose of contributing to the effective 
enforcement of the securities laws of each Party.  In this connection, the regulatory agencies of each 
Party shall be encouraged to formalise informa tion sharing arrangement on securities markets and 
securities derivatives markets through a memorandum of understanding.   
 
3. Articles 12.5, 12.8, 12.12 and 12.13 shall not apply to the co-operation between the Parties as set out in paragraph 2.  Capital Market Development 
 
4.  The Parties, recognising a growing need to enhance the competitiveness of their capital 
markets and to preserve and strengthen their stability in rapidly evolving glob al financial transactions, 
shall co-operate in facilitating the development of the capital markets of the Parties with a view to 
fostering sound and progressive capital markets and improving their depth and liquidity.  The Parties 
shall, in accordance with their respective laws and regulations , give consideration to the 
implementation of linkage of exchanges located within  the territories of the Parties, if both Parties 
determine that commercial interest exists for such linkage. 
 
Article 18.6 
 
Trade And Investment Promotion
 
1. The Parties shall co-operate in promoti ng trade and investment activities by private 
enterprises of the Parties, recognising that effo rts of the Parties to facilitate exchange and 
collaboration between private enterprises of the Par ties will act as a catalyst to promote trade and 
investment between the Parties and furthermore in Asia.  2. The Parties recognise that certain co-operati on between parties, one or both of whom are 
entities in their respective territories other than th e governments of the Parties, could contribute to 
trade and investment promotion between the Parties. Such co-operation shall be specified in Section 1 
of Annex 18A. WT/REG210/1 
Page 94  
 
  3. The Parties shall review the co-operation set  forth in paragraph 1 and, where appropriate, 
recommend ways or areas of further co-operati on between the parties to such co-operation. 
 
Article 18.7 
 
Paperless Trading
 
1. The Parties shall co-operate with a view to  realising and promoting paperless trading between 
the Parties, on the basis of the knowledge that pape rless trading greatly contributes to the promotion 
of trade between the Parties.  
2. The Parties shall exchange views and inform ation to study the development of paperless 
trading for a domestic electronic environment that  enables the cross-border transaction between the 
Parties.  3. The Parties shall encourage their relevant public and private entities to co-operate on the 
activities related to paperless trad ing. Such activities may include: 
 
(a) the establishment and operation of facilities to provide paperless trading between the 
enterprises and their respective governments of the Parties; 
(b) the joint studies on how to use and exchange  electronic trade-related information and 
electronic documents and on possible action for standardisation and establishment of 
legal infrastructure; and 
(c) the execution of the feasible pilot projects,  including the electronic transmission of 
the trade-related documents, such as invoice,  packing list and certification of origin. 
Article 18.8 
 
Broadcasting
 
1. The Parties, recognising the importance of broadcasting as a means for promoting cultural 
exchanges and understanding and the rapid developm ent of broadcasting technology and innovative 
broadcasting services, will encourage co-operation in the field of broadcasting between the Parties. 
2. The scope, form and other deta ils relating to the co-operation in  the field of broadcasting will 
be specified in Section 2 of Annex 18A. 
 
Article 18.9 
 
Environment  
Desiring to promote closer co-operation between interested organisations and industries of the 
Parties in the field of CNG technologies and applicati ons to environmental protection, the Parties have 
concluded a Memorandum of Understanding to facilitate  such co-operation.  
 
    
 
   WT/REG210/1 
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Article 18.10 
 
Human Resources Management And Development  
1. The Parties, recognising that sustainable ec onomic growth and prosperity largely depend on 
people’s knowledge and skills, sh all develop co-operation between  the Parties and encourage 
mutually beneficial co-operation between parties, one or both of whom are entities in their respective 
territories other than the governments of the Parties, in the field of human resource development. Such 
co-operation activities may include the following:   (a) exchange of government officials -   
 
the Parties shall promote exchanges of their government officials with a view to enhancing mutual understanding of the polic ies of their respective governments and 
the details of such exchanges of such gove rnment officials shall be specified in 
Section 3 of Annex 18A; 
 
 (b) co-operation between e ducational institutions -  
 
the Parties shall facilitate the launch of double degree programmes between higher 
educational institutions of the Parties, such  as in the area of digital media technology; 
 
 (c) third country training programme - 
   the Parties re-affirm the importance of  the Parties’ Third Country Training 
Programme (“TCTP”) in jointly renderi ng meaningful and productive technical 
assistance to third countries, in particular, in developing their social and economic 
resources and in recognition of the importan ce of the TCTP and its role in bringing 
the Parties’ bilateral relations to a higher level, the Parties shall make effort to 
increase the current level of co-operation in the TCTP; 
  (d) ageing population -   
the Parties shall exchange views and experiences on policy issues concerning an 
ageing population; and 
  (e) people developer -   
the Parties shall promote the exchange of  views and experiences on people developer 
between the Parties. 
 
Article 18.11 
 
Maritime Transport
 
1. The Parties, acknowledging the importance of maritime transport in their respective 
economies, shall develop and promot e co-operative activities in the fiel d of maritime transport. Such 
co-operative activities may include the following:   
(a) exchange of maritime simulation instructors/assessors and Certificate of Competency 
(“CoC”) examiners through study visits to learn how each Party uses simulators for 
their respective CoC training and other maritime applications; and WT/REG210/1 
Page 96  
 
  (b) development of a low-cost Automatic Identification System for marine applications 
such as fleet management for non-SOLAS vess els, monitoring of aids to navigation 
and monitoring of dumping activities at sea. 
 
2. The Parties shall conduct consultation on speci fying the co-operative activities and additional 
maritime co-operation in accordance with the Agreement on Maritime Transport between the 
Government of the Republic of Korea and the G overnment of the Republic of Singapore, signed on 
May 26,1981. 
 
Article 18.12 
 
Energy
 
1. The Parties, recognising the importance of en ergy in the respective economies, shall develop 
and promote co-operative activities in the field of energy.  
2. The co-operation may include the following forms: 
 
(a) facilitation of co-operation between the private sectors of both Parties for the purpose 
of oil/gas exploration;  
(b) facilitation of co-operation between resear ch institutes, and universities of both 
Parties for the purpose of engaging in joint R&D projects; and 
(c) exchange of information and sharing experiences in the fields of electricity and gas 
restructuring efforts, through study visits or such other activities as mutually agreed upon by the implementing authorities.   
Article 18.13 
 
Film Production
 
1. The Parties, recognising the importance of th e co-production of films in developing and 
expanding the film industries of both Parties and the potential for such co-productions to promote 
understanding and cultural exchanges between the Par ties, shall promote co-operation in this area. 
 2. The scope, form and other deta ils relating to the co-operation in the area of film production 
will be specified in the Section 4 of Annex 18A. 
 
Article 18.14 
 
Gaming And Animation
 
 The Parties, recognising both the potential of the gaming and animation industries as means 
for promoting understanding between the Parties and the rapid development of innovative media 
services, shall promote co-operation in this area between the Parties. 
 
 
 
 
   WT/REG210/1 
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CHAPTER 19:  TRANSPARENCY 
 
Article 19.1 
 
Definitions  
For the purposes of this Chapter:  
  administrative ruling of general application  means an administrative ruling or 
interpretation that applies to all persons and fact situ ations that fall generally within its ambit and that 
establishes a norm of conduct but does not include:   
(a) a determination or ruling made in an administrative or quasi-judicial proceeding that 
applies to a particular person, good or servi ce of the other Party in a specific case; or  
(b) a ruling that adjudicates with respect to a particular act or practice.  
Article 19.2 
 
Publication
 
1.   Each Party shall ensure that its laws, re gulations, procedures and administrative rulings of 
general application relating to an y matter covered by this Agreement are promptly published or 
otherwise made available in such a manner as to en able interested persons and the other Party to 
become acquainted with them.  
 
2.   To the extent possible, each Party shall in  accordance with its domestic laws, regulations and 
procedures:  
 
(a) publish in advance any such laws, regulati ons, procedures, and administrative rulings 
that it proposes to adopt; and  
(b) provide interested persons and the other Party a reasonable opportunity to comment 
on such measures. 
Article 19.3 
 
Notification And Provision Of Information  
1.  To the maximum extent possible, each Party shall notify the other Party of any measure that, 
the Party considers, may materially affect the opera tion of this Agreement or otherwise substantially 
affect the other Party's interests under this Agreement.  
 
2. Upon request of the other Party, a Party sh all promptly provide information and respond to 
questions pertaining to any measure, whether or not the other Party has been previously notified of 
that measure.  
 3.  Any notification, or information provided unde r this Article shall be without prejudice as to 
whether the measure is consis tent with this Agreement. 
 4.  Any notification, request, or information unde r this Article shall be provided to the other 
Party through the relevant contact points. 
 
 WT/REG210/1 
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  Article 19.4 
 
Administrative Proceedings
 
 With a view to administering in a consiste nt, impartial and reasonable manner all measures 
referred to in Article 19.2, each Party shall ensure that in its administrative proceedings applying such 
measures to particular persons, goods or services of the other Party in specific cases that:  
 
(a) wherever possible, persons of the other Party that are directly affected by a 
proceeding are provided with a reasonable notice, in accordance with domestic 
procedures, when a proceeding is initiated, including a description of the nature of the 
proceeding, a statement of the legal author ity under which the pr oceeding is initiated 
and a general description of any issues in controversy;  
(b) such persons are afforded with a reas onable opportunity to present facts and 
arguments in support of their positions prior to any final administrative action, when 
time, the nature of the proceeding and the public interest permit; and  
(c) its procedures are in accordance with its domestic law. 
Article 19.5 
 
Review And Appeal  
1.  Each Party shall establish or maintain judicial, quasi-judicial, or administrative tribunals or 
procedures for the purpose of the prompt review  and, where warranted, correction of final 
administrative actions regarding matters covered by th is Agreement. Such tribunals shall be impartial 
and independent of the office or authority entrus ted with administrative enforcement and shall not 
have any substantial interest in the outcome of the matter.  
 
2.  Each Party shall ensure that , in any such tribunals or procedures, the parties to the proceeding 
are provided with the right to:   
(a) a reasonable opportunity to support or defend their respective positions; and  
(b) a decision based on the evidence and submissi ons of record and, where required by 
domestic law, the record compiled by the administrative authority. 
3.  Each Party shall ensure, subject to appeal or further review as provided in its domestic law, 
that such decisions shall be implemented by, and shall govern the practice of, the offices or authorities 
with respect to the administrative action at issue. 
  
CHAPTER 20:  DISPUTE SETTLEMENT 
 
Article 20.1 
 
Co-Operation
 
 The Parties shall at all times endeavour to ag ree on the interpretation and application of this 
Agreement, and shall make every attempt through co-operation and consulta tions to arrive at a 
mutually satisfactory resolution of any matter that might affect its operation. 
  WT/REG210/1 
 Page 99 
 
 
Article 20.2 
 
Scope And Coverage  
1.  Unless otherwise agreed by the Parties elsewh ere in this Agreement, the provisions of this 
Chapter shall apply with respect to the avoidance and settlement of all disputes between the Parties 
regarding the implementation, interpretation or appl ication of this Agreement or wherever a Party 
considers that a measure of the other Party is incons istent with the obligations of this Agreement or 
causes nullification or impairment of any benefit accrui ng to it directly or indirectly under Chapters 3 
(National Treatment and Market Ac cess for Goods), 4 (Rules of Origin), and 9 (Cross Border Trade 
on Services). 
 
2.  Unless otherwise agreed by the Parties, the timeframes and procedural rules set out in this 
Chapter and its Annex[es] shall apply to all disputes governed by this Chapter. 
 3.  Findings, determinations and recommendations of an arbitral panel cannot add to or diminish 
the rights and obligations of the Parties under this Agreement.  
  4.  The provisions of this Chapter may be invoked in respect of measures affecting the 
observance of this Agreement taken by the relevant authorities within the territory of a Party. When 
an arbitral panel has ruled that a provision of this  Agreement has not been observed, the responsible 
Party shall take such reasonable measures as may be av ailable to it to ensure its observance within its 
territory. 
 5.  The Parties and the arbitral panel appointed  under this Chapter shall interpret and apply the 
provisions of this Agreement in the light of the objectives of this Agreement and in accordance with 
customary rules of public international law. 
 
Article 20.3 
 
Choice Of Forum
 
1.  Disputes regarding any matter arising under both this Agreement and the WTO Agreement, 
any agreement negotiated thereunder, or any su ccessor agreement, may be settled in the forum 
selected by the complaining Party. 
 2.  Once dispute settlement procedures have  been initiated under Article 20.6 or dispute 
settlement proceedings have been initiated under th e WTO Agreement, the forum selected shall be 
used to the exclusion of the other. 
 
3.  For the purposes of this Article, disput e settlement proceedings under the WTO Agreement 
are deemed to be initiated upon a request for a panel by a Party. 
 
Article 20.4 
 
Consultations 
 
1.  A Party may request in writing consultations with the other Party on any matter affecting the 
implementation, interpretation or a pplication of this Agreement or whenever a party considers that 
any measure or any other matter that is inconsistent  with the obligations of this Agreement or causes 
nullification or impairment of any benefit accruing  to it directly or indirectly under Chapters 3 
(National Treatment and Market Access for Goods), 4 (Rules of Origin), and 9 (Cross Border Trade in 
Services).   
 WT/REG210/1 
Page 100  
 
  2.  If a request for consultation is made, the Party to which the request is made shall reply to the 
request within ten (10) days after the date of its receipt and shall enter into consultations within a 
period of no more than twenty (20) days after th e date of receipt of the request, with a view to 
reaching a mutually satisfactory solution.  
 
3.  The Parties shall make every effort to reach  a mutually satisfactory resolution of any matter 
through consultations. To this end, the Parties shall:  
 
(a) provide sufficient information to enable a full examination of how the measure might 
affect the operation of the Agreement; and  
(b) treat as confidential any information excha nged in the consultations which the other 
Party has designated as confidential.  
Article 20.5 
 
Good Offices, Conciliation Or Mediation 
 
1. The Parties may at any time agree to good o ffices, conciliation or mediation. They may begin 
at any time and be terminated by either Party at any time.   2. Proceedings involving good offices, conciliati on and mediation, and in  particular positions 
taken by the Parties during these proceedings, shall be  confidential, and without prejudice to the rights 
of either Party in any further proceedings unde r the provisions of this Chapter or any other 
proceedings before a forum selected by the Parties. 
 3. If the Parties agree, procedures for good offi ces, conciliation or mediation may continue while 
the dispute proceeds for resolution before an arbitral panel established under Article 20.6. 
 
Article 20.6 
 
Request For An Arbitral Panel
 
1.  A Party may request in writing for the establis hment of an arbitral panel if the matter has not 
been resolved pursuant to Article 20. 4, within forty-five (45) days after the date of receipt of the 
request for consultations.  
 
2.  A request for arbitration shall give the reas on for the complaint including the identification of 
the measure at issue and an indication of the legal basis of the complaint. 
 3.  Upon delivery of the request, an arbitral panel shall be established. 
 
4.  Unless otherwise agreed by th e Parties, an arbitral panel shall be established and perform its 
functions in accordance with the provisions of this Chapter.  
Article 20.7 
 
Composition Of Arbitral Panels
 
1.  The arbitral panel referred to in Article 20.6 shall consist of three (3) members.  Each Party 
shall appoint a member within thirty (30) days of  the receipt of the request under Article 20.6. The 
Parties shall jointly appoint the third member who sh all serve as the chair of the arbitral panel within 
thirty (30) days of the appointment of the second member.  WT/REG210/1 
 Page 101 
 
 
2.  If the Parties are unable to agree on the chair of the arbitral panel within thirty (30) days after 
the date on which the second member has been appointed, they shall within the next ten (10) days exchange their respective list comprising four (4) nominees each who shall not be nationals of either 
Party.  The chair shall then be appointed in the presence of both Parties by lot from the lists within 
forty (40) days from the date of appointment of the second member.  If a Party fails to submit its list 
of four (4) nominees, the chair shall be appointed  by lot from the list already submitted by the other 
Party.   3.  If a member of the arbitral panel appointed under this Article becomes unable to act, a successor shall be appointed in the same manner as  prescribed for the appointment of the original 
member and the successor shall have all the powers and duties of the original member.  In such a case, 
any time period applicable to the arbitral panel pr oceedings shall be suspended for a period beginning 
on the date when the original member becomes unabl e to act and ending on the date when the new 
member is appointed.  
  
4.  Any person appointed as a member of the arbitr al panel shall have expertise or experience in 
law, international trade, other matters covered by this Agreement or the resolution of disputes arising 
under international trade agreements. A member shal l be chosen strictly on the bases of objectivity, 
reliability, sound judgment and independence and sha ll conduct himself or herself on the same bases 
throughout the course of the arbitration proceedings. If a Party believes that a member is in violation 
of the bases stated above, the Parties shall consult a nd if they agree, the member shall be removed and 
a new member shall be appointed in accordance with  this Article. Additionally, the chair shall not 
have his or her usual place of residence in the te rritory of, nor be employed by, either Party.  
 
Article 20.8 
 
Termination Of Proceedings
 
 The Parties may agree to terminate the proceed ings before an arbitral panel at any time by 
jointly notifying the chair to this effect.  
Article 20.9 
 
Proceedings Of Arbitral Panels
 
1.  Unless the Parties agree otherwise, the arbitr al panel shall follow the model rules of procedure 
in the Annex 20A, which shall ensure:  
(a) that an arbitral panel shall meet in closed session; 
(b) a right to at least one hearing before the arbitral panel;  
(c) an opportunity for each Party to provi de initial and rebuttal submissions; 
(d) that each Party’s written submissions, written versions of its oral statement, and 
written response to a request or question fro m the arbitral panel may be made public 
after they are submitted, subject to clause (g);  
(e) that the arbitral panel may consider re quests from non-governmental entities in the 
Parties’ territories to provide written views regarding the dispute that may assist the 
arbitral panel in evaluating the submis sions and arguments of the Parties; 
(f) a reasonable opportunity for each Party to submit comments on the initial report 
presented pursuant to paragraph 3 of Article 20.11; and WT/REG210/1 
Page 102  
 
  (g) the protection of confidential information. 
2. The arbitral panel may, after consulting the Parties, adopt additional rules of procedure not 
inconsistent with the model rules.  
Article 20.10 
 
Information And Technical Advice
 
1.  Upon request of a Party, or on its own initiative, the arbitral panel may seek information and 
technical advice from any person or body that it deems appropriate. Any information and technical 
advice so obtained shall be made available to the Parties. 
 
2.  With respect to factual issues concerning a scientific or other technical matter raised by a Party, the arbitral panel may request advisory report s in writing from an expert or experts. The arbitral 
panel may, at the request of a Party or on its own initiative, select, in consu ltation with the Parties, 
scientific or technical experts who shall assist the arbitral panel throughout its proceedings, but who 
shall not have the right to vote in respect of any decision to be made by the arbitral panel.  
 
Article 20.11 
 
Initial Report
 
1.  Unless the Parties otherwise agree, the arb itral panel shall base its report on the relevant 
provisions of this Agreement, on the submissions and arguments of the Parties, and on any 
information before it, pursuant to Article 20.10.   2.  Unless the Parties otherwise agree, the arbitral  panel shall, within ninety (90) days after the 
last member is selected, present to the Parties an initial report containing:  
 
(a) findings of law and/or fact together with reasons; 
(b) its determination as to the implementation,  interpretation or application of this 
Agreement or whether the measure at issue is inconsistent with the obligations of this 
Agreement or causes nullification or impairment of any benefit accruing to a Party under this Agreement, or any other determina tion requested in the terms of reference; 
and  
(c) its recommendations, if any, on the means to resolve the dispute. 
3.  The Parties may submit written comments on the initial report within fourteen (14) days of its 
presentation.   
4.  In case that such written comments by the Pa rties are received as provided for in paragraph 3, 
the arbitral panel, on its own initiative or at the requ est of a Party, may reconsider its report and make 
any further examination that it considers appropr iate after considering such written comments. 
 
Article 20.12 
 
Final Report
 
1.  The arbitral panel shall present a final report to the Parties, within thirty (30) days of 
presentation of the initial report, unless the Parties otherwise agree.  WT/REG210/1 
 Page 103 
 
 
  2.  The final report of the arbitral panel shall be  made publicly available within fifteen (15) days 
of its delivery to the Parties.  
Article 20.13 
 
Implementation Of Final Report
 
1.  The final report of an arbitral panel shall be binding on the Parties and shall not be subject to 
appeal.  
2.  On receipt of the final report of an arbitral panel, the Parties shall agree on: 
 
(a) the means to resolve the dispute, which normally shall conform with the 
determinations or recommendations, if  any, of the arbitral panel; and 
(b) the reasonable period of time which is necess ary in order to implement the means to 
resolve the dispute. If the Parties fail to agree on the reasonable period of time, a 
Party may request the original arbitral pane l to determine the length of the reasonable 
period of time, in the light of the par ticular circumstances of the case. The 
determination of the arbitral panel shall be  presented within fifteen (15) days from 
that request.  
3.  If, in its final report, the arbitral panel determines that a Party has not conformed with its 
obligations under this Agre ement or that a Party’s measure has ca used nullification or impairment, the 
means to resolve the dispute sha ll, whenever possible, be to eliminate the non-conformity or the 
nullification or impairment.  
Article 20.14 
 
Non-Implementation – Compensation And Suspension Of Benefits
 
1.  If the Parties 
 
(a) are unable to agree on the means to resolve the dispute pursuant to paragraph 2(a) of 
Article 20.13 within thirty (30) days of issuance of the final report; or 
(b) have agreed on the means to resolve the dispute pursuant to Article 20.13 and the 
Party complained against fails to implemen t the aforesaid means within thirty (30) 
days following the expiration of the r easonable period of time determined in 
accordance with paragraph 2(b) of Article 20.13,  
 the Party complained against shall enter into negotiations with the complaining Party with a 
view to reaching a mutually satisfactory agreement on any necessary compensatory 
adjustment.   
 
2.  If no mutually satisfactory agreement on comp ensation has been reached within twenty (20) 
days after the Parties have entered into negotia tions on compensatory adjustment, the complaining 
Party may at any time thereafter provide written notice to the Party complained against that it intends 
to suspend the application to that Party of benefits  of equivalent effect.  The notice shall specify the 
level of benefits that the complaining Party pro poses to suspend. The complaining Party may begin 
suspending benefits thirty (30) days after the da te when it provides notice to the Party complained 
against under this paragraph, or the date when th e arbitral panel issues the report under paragraph 6, 
whichever is later. WT/REG210/1 
Page 104  
 
  3.  Any suspension of benefits shall be restrict ed to benefits granted to the Party complained 
against under this Agreement.    4.  In considering what benefits  to suspend under paragraph 2:  
 
(a) the complaining Party should first seek to suspend benefits in the same sector or 
sectors as that affected by the measure or other matter that the arbitral panel has found to be inconsistent with this Agre ement or to have caused nullification or 
impairment; and  
(b) the complaining Party may suspend  benefits  in other sectors if it considers that it is 
not practicable or effective to suspend benefits in the same sector.  
5.  The suspension of benefits shall be temporar y and shall only be applied until such time as the 
measure found to be inconsistent with this Agreement, or to have caused nullification or impairment 
has been removed, or a mutually  satisfactory solution is reached. 
 
6.  If the Party complained against considers that:  
 
(a) the level of benefits that the complaining Party has proposed to be suspended is 
manifestly excessive; or  
(b) it has eliminated the non-conformity, nullifi cation or impairment that the arbitral 
panel has found, 
 it may request the original arbitral panel to de termine the matter. The original arbitral panel 
 shall present its determination to the Parties within thirty (30) days after it reconvenes. 
 
7.  If the arbitral panel cannot be reconvened with its original members, the procedures for 
appointment for the arbitral panel set out in Article 20.7 shall be applied. 
 
Article 20.15 
 
Official Language
 
1.  All proceedings and all documents submitted to  the arbitral panel shall be in the English 
language. 
 
2.  When an original document submitted to the ar bitral panel by a Party is not in the English 
language, that Party shall translate it into the En glish language and submit it with the original 
document at the same time.  
Article 20.16 
 
Expenses 
 
1.  Unless the Parties otherwise agree, the co sts of the arbitral panel and other expenses 
associated with the conduct of its proceedings sh all be borne in equal parts by both Parties. 
 
2.  Each Party shall bear its own expenses a nd legal costs in the arbitral proceedings.  
 
 
  WT/REG210/1 
 Page 105 
 
 
CHAPTER 21:  EXCEPTIONS 
 
Article 21.1 
 
Definitions  
 For the purposes of this Chapter: 
 
 tax agreement  means a convention for the avoidance of  double taxation or other international 
agreement or arrangement.  
 
Article 21.2  
 
General Exceptions  
1. Article XX of GATT is incorporated into and made part of this Agreement, for the purposes 
of:  
 
(a) Chapters 3 (National Treatment and Market Access for Goods), 4 (Rules of Origin), 5 
(Customs Procedures), 6 (Trade Remedies), and 14 (Electronic Commerce), except to 
the extent that a provision of those Chap ters applies to services or investment; and 
(b) Chapter 16 (Government Procurement), except to  the extent that any of its provisions 
applies to services. 
2.  Subparagraphs (a), (b) and (c ) of Article XIV of GATS are incorporated into and made part of 
this Agreement, for the purposes of:  
 
(a) Chapters 3 (National Treatment and Market Access for Goods), 4 (Rules of Origin), 5 
(Customs Procedures), 6 (Trade Remedies), and 14 (Electronic Commerce), to the 
extent that a provision of those chapters applies to services; 
(b) Chapter 9 (Cross Border Trade in Services); 
(c) Chapter 10 (Investment); 
(d) Chapters 11 (Telecommunication) and 12 (Financial Services); and 
(e) Chapter 16 (Government Procurement), to th e extent that a provision applies to 
services. 
Article 21.3  
 
National Security  
1. Nothing in this Agreem ent shall be construed:  
 
(a) to require a Party to furnish any informa tion, the disclosure of which it considers 
contrary to its essential security interests; or  
(b) to prevent a Party from taking any actions which it considers necessary for the 
protection of its essential security interests:  WT/REG210/1 
Page 106  
 
  (i) relating to the traffic in arms, ammuni tion and implements of  war and to 
such traffic in other goods and material s or relating to the supply of services 
as carried on, directly or indirectly, for the purpose of supplying or provisioning a military establishment;  
(ii) taken in time of war or other emer gency in international relations;  
(iii) relating to fissionable and fusionable materials or the materials from which 
they are derived; or 
(c) to prevent a Party from taking any action in pursuance of its obligations under the 
United Nations Charter for the maintena nce of international peace and security. 
A Party shall inform the other Party to the fullest extent possible, of measures taken under paragraphs 
1(b) and (c) and of their termination during the meeting to review the implementation of this 
Agreement under Article 22.1, if such measures were taken.  
Article 21.4 
 
Taxation
 
1. Except as set out in this Article, nothing in this Agreement shall apply to taxation measures. 
 
2. Nothing in this Agreement shall affect the ri ghts and obligations of either Party under any tax 
agreement to which both Parties are parties. In the event of any inconsistenc y between this Agreement 
and any such agreement, that agreement shall prevail to the extent of the inconsistency. In the case of 
a bilateral tax agreement between the Parties, th e competent authorities under that agreement shall 
have sole responsibility for determ ining whether any inconsistency ex ists between this Agreement and 
that agreement.  
 
3. Notwithstanding paragraph 2, Article 3.3 and such other provisions of this Agreement as are 
necessary to give effect to that Article shall a pply to taxation measures to the same extent as does 
Article III of GATT 1994. 
 
4. Articles 10.13 and 10.19 shall apply to taxa tion measures to the extent that such taxation 
measures constitute expropriation as provided for therein21-1. An investor that seeks to invoke 
Article 10.13 with respect to a taxation measure must  first refer to the competent authorities described 
in paragraph 5, at the time that it gives notice unde r Article 10.19, the issue of whether that taxation 
measure involves an expropriation. If the competent authorities do not agree to consider the issue or, 
                                                      
21-1 With reference to Article 10.13 in assessing whether a taxation measure constitutes expropriation, 
the following considerations are relevant: 
(i) the imposition of taxes does not generally constitute expropriation. The mere introduction of 
new taxation measures or the imposition of taxes in more than one jurisdiction in respect of an 
investment, does not in and of itself constitute expropriation; 
(ii) taxation measures which are c onsistent with internationally rec ognised tax policies, principles 
and practices do not constitute expropriation. In particular, taxation measures aimed at 
preventing the avoidance or evasion of taxes should not, generally, be considered to be 
expropriatory; and 
(iii) taxation measures which are applied on a non-discriminatory basis, as opposed to being 
targeted at investors of a particular nationality or specific individual taxpayers, are less likely 
to constitute expropriation. A taxation measure should not constitute expropriation if, when the investment is made, it was already in for ce, and information about the measure was made 
public or otherwise made publicly available.    WT/REG210/1 
 Page 107 
 
 
having agreed to consider it, fail to agree that th e measure is not an expropr iation within a period of 
six (6) months of such referral, the investor may submit its claim to arbitration under Article 10.19. 
 5. For the purposes of this Article, competent authorities  means: 
 
(a) for Singapore, Director for Fiscal Policy, Mi nistry of Finance, or his successor or 
such other public officer as may be designated by Singapore; and  
(b) for Korea, Deputy Minister, Tax and Customs Office, Ministry of Finance and 
Economy or his successor.  
 
CHAPTER 22:  ADMINISTRATION AND FINAL PROVISIONS 
 
Article 22.1 
 
Review On The Implementation Of The Agreement
 
1.  In addition to the provisions for consultati ons elsewhere in this Agreement, Ministers in 
charge of trade negotiations of the Parties or their designated officials shall meet within a year of the 
date of entry into force of this Agreement and then  annually or otherwise as appropriate to review the 
implementation of this Agreement. 
 
2.  Pursuant to paragraph 1, the Parties may:   
(a) review the implementation and applicati on of the provisions of this Agreement 
including the work of an y committees and working groups established under this 
Agreement; 
(b) establish and delegate responsibilities to an y ad hoc or standing committees, working 
groups or expert groups to: 
(i) assign them with tasks on specific matters; 
(ii) study and recommend to the Ministers in charge of trade negotiations of the 
Parties any appropriate measures to resolve any issues arising from the implementation or application of any part of this Agreement; or 
(iii) to consider, upon either Party’s request, new issues not already dealt with by 
this Agreement;  
(c) modify the established rules of origin and such modification shall come into force in 
accordance with Article 22.4; and  
(d) consider any other matter that may a ffect the operation of this Agreement. 
Article 22.2 
 
Contact Points
 
1.  Each Party shall designate a contact point to  facilitate communications between the Parties on 
any matter covered by this Agreement.  WT/REG210/1 
Page 108  
 
  2.  For the purposes of this Agreement, all communi cations or notifications to or by a Party shall 
be made through its contact point.  
3.  For the purposes of this Article, the contact points of the Parties are: 
 
(a) for Korea, the Free Trade Agreement Bureau of the Ministry of Foreign Affairs and 
Trade, or its successor; and 
(b) for Singapore, the Ministry of Trade and Industry, or its successor. 
Article 22.3 
 
Annexes And Appendices
 
 The Annexes and Appendices to this Agreemen t shall constitute integral parts of this 
Agreement. 
 
Article 22.4 
 
Amendments  
1.  The Parties may agree on any modification of or addition to this Agreement. 
 
2.  When so agreed, such a modification or add ition under paragraph 1 shall enter into force and 
constitute an integral part of this Agreement af ter the Parties have exchanged written notification 
certifying that they have completed necessary internal  legal procedures and on such date or dates as 
may be agreed between the Parties. 
 
Article 22. 5 
 
Entry Into Force  
 This Agreement shall enter into force thir ty (30) days after an exchange of written 
notifications, certifying the completion of the necessary legal procedures of each Party. 
 
Article 22.6  
 
Termination  
 Either Party may terminate this Agreement by written notification to the other Party, and such 
termination shall take effect six (6) mont hs after the date of the notification.  
 
Article 22.7  
 
Authentic Texts  
 The Korean and English texts of this Agre ement are equally authentic. In the event of 
divergence, the English text shall prevail. 
 
 
 
  WT/REG210/1 
 Page 109 
 
 
 IN WITNESS WHEREOF , the undersigned, being duly authorised by their respective 
Governments, have si gned this Agreement. 
 
 DONE  in          , on             , in duplicate, in the Korean and English languages.  
     FOR THE GOVERNMENT OF               FOR THE GOVERNMENT OF  THE REPUBLIC OF KOREA               THE REPUBLIC OF SINGAPORE 
 
 BAN KI-MOON                                 LIM HNG KIANG 
Minister of Foreign Affairs and Trade              Minister for Trade and Industry 
 
__________