On 26 January 2016, officials from Ecuador and the
Republic of Korea held the first round of negotiations towards a Strategic Agreement on Economic
Cooperation. On December 1, 2017 Ecuador's Viceminister of Trade announced that his country and
Korea will resume trade negotiations. On March 2, 2022 Ecuador and Korea agreed to restart the temporarily
halted Korea-Ecuador Strategic Economic Complementation Agreement (SECA) negotiations.
On July 11, 2022, in Seoul, South Korea, began the sixth round of negotiation of the Strategic Economic Cooperation Agreement (SECA), which was carried out in a hybrid way with face-to-face sessions and virtual.
On October 7, 2022, the seventh round of negotiations of the Strategic Economic Complementation Agreement (SECA) between Ecuador and Korea ended, the chief negotiators of both countries announced the closure of three new tables regarding: competition, trade facilitation, and technical barriers to trade.The eighth round of negotiations took place in Quito, Ecuado on November 21-25, 2022.
During the ninth round of negotiations of the Ecuador-Korea Economic Association Agreement (SECA for its acronym in English), which took place in Seoul from April 3 to 7, the parties were able to close the technical negotiation.
The Strategic Economic Cooperation Agreement between Ecuador and South Korea (SECA) was signed on October 10, 2022, in Ecuador, and on October 11, 2023, in Korea, between the Ministers of Foreign Trade of both nations.