MERCOSUR (composed of Argentina, Brazil, Paraguay and Uruguay) and the
Republic of Korea initiated a joint study on the possiblity of a MERCOSUR-Korea free trade agreement in 2005.
The first meeting of the joint study group took place in May 2005 in Asunción, Paraguay. The second
meeting took place in August 2005 in Seoul, Korea.
On March 2, 2017, MERCOSUR and Korea completed their exploratory dialogue with a view to negotiating a
trade agreement in the near future. The Chief Negotiators of MERCOSUR and the Viceminister of Trade and
Investment of the Republic of Korea met in Buenos Aires, Argentina, on December 10, 2017 and agreed on the
importance of quickly initiating negotiations for a Trade Agreement between MERCOSUR and Korea.