South Korea, Japan to be united by 1st free trade pact in February

Seoul completes ratification process for RCEP

20211206N Incheon dock

A truck drives between shipping containers at a container terminal at Incheon port in South Korea. © Reuters

SATSUKI KANEKO, Nikkei staff writer

TOKYO -- South Korea is now set to put the Regional Comprehensive Economic Partnership into force on Feb. 1, an arrangement that will give it its first free trade deal with neighboring Japan.

RCEP will take effect Jan. 1 for 10 parties that completed the ratification process by Nov. 2, when the necessary conditions were met: China, Japan, Australia, New Zealand, Singapore, Thailand, Vietnam, Brunei, Cambodia and Laos.

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