In recent years, FB Rice has increased its presence in Korea, working more closely with a network of Associates to advance our clients' interests in that country.
For further information on filing in Korea, please contact Sylvan Browne.
With specialist Korean Attorney skills in-house, language capabilities and an ever deepening understanding of the economic relationship between the two countries, we are seen by many foreign corporate clients as an ideal starting point for doing business in Korea.
The Republic of Korea became bound by the ‘Patent Cooperation Treaty’ (PCT) in August 1984.
Australia and the Republic of Korea (ROK, also known as South Korea) are strong economic, political and strategic partners with common values and interests. People-to-people links between the two countries are increasing and make a significant contribution to the relationship.
Our important economic relationship continues to expand with the signature on 8 April 2014 of the Korea Australia Free Trade Agreement (KAFTA). The ROK is a key market for Australian minerals, energy and travel and education services and Australia is a major market for ROK passenger vehicles, petroleum, and electronic goods and parts. The investment relationship is also growing from a small base.
Bilateral relations have strengthened considerably in recent years. Cooperation on international affairs has reinforced the partnership. Australia and the ROK are active members of the G20, Asia-Pacific Economic Cooperation (APEC) and the East Asia Summit (EAS), and are both currently non-permanent members of the United Nations Security Council (UNSC).
Australia’s Joint Standing Committee on Treaties (JSCOT) has recommended the Government take binding treaty action on the Korea-Australia Free Trade Agreement (KAFTA) in a report tabled in Parliament. The report and the Government’s subsequent introduction in Parliament of customs and tariff legislation bring KAFTA closer to implementation.
South Korea is Australia’s third-largest export market and fourth-largest trading partner, with bilateral trade totalling A$32 billion in 2013. KAFTA is set to enhance Australia’s trading position with South Korea, where competitors such as the United States, the European Union and South-East Asian countries already benefit from preferential access. The agreement with South Korea also strengthens Australia’s position as a platform for expansion into Asia.