On 19 November 2004, Canada and the Republic of Korea announced that they would initiate talks to explore the feasibility of negotiating a free trade agreement. On 15 July 2005, the formal launch of the negotiations was announced. The first round of negotiations was held on 28 July 2005. Eleven rounds of negotiations have been held to date. On 11 March 2014, the Government of Canada announced the conclusion of free trade negotiations with Korea. On 12 June 2014, the Canadian Government tabled the Final Text of the Canada-Korea Free Trade Agreement in the House of Commons. On 22 September 2014, Canada and Korea signed the Free Trade Agreement.
On 3 December 2014, the Government of Canada announced
that legislation to implement the Canada-Korea FTA had received Royal Assent. The Canada-Korea FTA entered into force on January 1, 2015, fulfilling the commitment made by the Canadian Prime Minister and the South Korean President in March 2014 in Seoul and in September 2014 in Ottawa.