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Korea, Republic of - Singapore FTA (2005)
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Article 21.2. General Exceptions

1. Article XX of GATT is incorporated into and made part of this Agreement, for the purposes of:
(a) Chapters 3 (National Treatment and Market Access for Goods), 4 (Rules of Origin), 5 (Customs Procedures), 6 (Trade Remedies), and 14 (Electronic Commerce), except to the extent that a provision of those Chapters applies to services or investment; and
(b) Chapter 16 (Government Procurement), except to the extent that any of its provisions applies to services.
2. Subparagraphs (a), (b) and (c) of Article XIV of GATS are incorporated into and made part of this Agreement, for the purposes of:
(a) Chapters 3 (National Treatment and Market Access for Goods), 4 (Rules of Origin), 5 (Customs Procedures), 6 (Trade Remedies), and 14 (Electronic Commerce), to the extent that a provision of those chapters applies to services;
(b) Chapter 9 (Cross Border Trade in Services);
(c) Chapter 10 (Investment);
(d) Chapters 11 (Telecommunication) and 12 (Financial Services); and
(e) Chapter 16 (Government Procurement), to the extent that a provision applies to services.

Article 21.3. National Security

1. Nothing in this Agreement shall be construed:
(a) to require a Party to furnish any information, the disclosure of which it considers contrary to its essential security interests; or
(b) to prevent a Party from taking any actions which it considers necessary for the protection of its essential security interests:
(i) relating to the traffic in arms, ammunition and implements of war and to such traffic in other goods and materials or relating to the supply of services as carried on, directly or indirectly, for the purpose of supplying or provisioning a military establishment;
(ii) taken in time of war or other emergency in international relations;
(iii) relating to fissionable and fusionable materials or the materials from which they are derived; or
(c) to prevent a Party from taking any action in pursuance of its obligations under the United Nations Charter for the maintenance of international peace and security.
A Party shall inform the other Party to the fullest extent possible, of measures taken under paragraphs 1(b) and (c) and of their termination during the meeting to review the implementation of this Agreement under Article 22.1, if such measures were taken.

Article 21.4. Taxation

1. Except as set out in this Article, nothing in this Agreement shall apply to taxation measures.
2. Nothing in this Agreement shall affect the rights and obligations of either Party under any tax agreement to which both Parties are parties. In the event of any inconsistency between this Agreement and any such agreement, that agreement shall prevail to the extent of the inconsistency. In the case of a bilateral tax agreement between the Parties, the competent authorities under that agreement shall have sole responsibility for determining whether any inconsistency exists between this Agreement and that agreement.
3. Notwithstanding paragraph 2, Article 3.3 and such other provisions of this Agreement as are necessary to give effect to that Article shall apply to taxation measures to the same extent as does Article III of GATT 1994.
4. Articles 10.13 and 10.19 shall apply to taxation measures to the extent that such taxation measures constitute expropriation as provided for therein (21-1). An investor that seeks to invoke Article 10.13 with respect to a taxation measure must first refer to the competent authorities described in paragraph 5, at the time that it gives notice under Article 10.19, the issue of whether that taxation measure involves an expropriation. If the competent authorities do not agree to consider the issue or, having agreed to consider it, fail to agree that the measure is not an expropriation within a period of six (6) months of such referral, the investor may submit its claim to arbitration under Article 10.19.
5. For the purposes of this Article, competent authorities means:
(a) for Singapore, Director for Fiscal Policy, Ministry of Finance, or his successor or such other public officer as may be designated by Singapore; and
(b) for Korea, Deputy Minister, Tax and Customs Office, Ministry of Finance and Economy or his successor.

21-1 With reference to Article 10.13 in assessing whether a taxation measure constitutes expropriation, the following considerations are relevant:
(i) the imposition of taxes does not generally constitute expropriation. The mere introduction of new taxation measures or the imposition of taxes in more than one jurisdiction in respect of an investment, does not in and of itself constitute expropriation;
(ii) taxation measures which are consistent with internationally recognised tax policies, principles and practices do not constitute expropriation. In particular, taxation measures aimed at preventing the avoidance or evasion of taxes should not, generally, be considered to be expropriatory; and
(iii) taxation measures which are applied on a non-discriminatory basis, as opposed to being targeted at investors of a particular nationality or specific individual taxpayers, are less likely to constitute expropriation. A taxation measure should not constitute expropriation if, when the investment is made, it was already in force, and information about the measure was made public or otherwise made publicly available.

Chapter 22. Administration and Final Provisions

Article 22.1. Review on the Implementation of the Agreement

1. In addition to the provisions for consultations elsewhere in this Agreement, Ministers in charge of trade negotiations of the Parties or their designated officials shall meet within a year of the date of entry into force of this Agreement and then annually or otherwise as appropriate to review the implementation of this Agreement.
2. Pursuant to paragraph 1, the Parties may:
(a) review the implementation and application of the provisions of this Agreement including the work of any committees and working groups established under this Agreement;
(b) establish and delegate responsibilities to any ad hoc or standing committees, working groups or expert groups to:
(i) assign them with tasks on specific matters;
(ii) study and recommend to the Ministers in charge of trade negotiations of the Parties any appropriate measures to resolve any issues arising from the implementation or application of any part of this Agreement; or
(iii) to consider, upon either Party's request, new issues not already dealt with by this Agreement;
(c) modify the established rules of origin and such modification shall come into force in accordance with Article 22.4; and
(d) consider any other matter that may affect the operation of this Agreement.

Article 22.2. Contact Points

1. Each Party shall designate a contact point to facilitate communications between the Parties on any matter covered by this Agreement.
2. For the purposes of this Agreement, all communications or notifications to or by a Party shall be made through its contact point.
3. For the purposes of this Article, the contact points of the Parties are:
(a) for Korea, the Free Trade Agreement Bureau of the Ministry of Foreign Affairs and Trade, or its successor; and
(b) for Singapore, the Ministry of Trade and Industry, or its successor.

Article 22.3. Annexes and Appendices

The Annexes and Appendices to this Agreement shall constitute integral parts of this Agreement.

Article 22.4. Amendments

1. The Parties may agree on any modification of or addition to this Agreement.
2. When so agreed, such a modification or addition under paragraph 1 shall enter into force and constitute an integral part of this Agreement after the Parties have exchanged written notification certifying that they have completed necessary internal legal procedures and on such date or dates as may be agreed between the Parties.

Article 22.5. Entry Into Force

This Agreement shall enter into force thirty (30) days after an exchange of written notifications, certifying the completion of the necessary legal procedures of each Party.

Article 22.6. Termination

Either Party may terminate this Agreement by written notification to the other Party, and such termination shall take effect six (6) months after the date of the notification.

Article 22.7. Authentic Texts

The Korean and English texts of this Agreement are equally authentic. In the event of divergence, the English text shall prevail.

Conclusion

Article Article

IN WITNESS WHEREOF, the undersigned, being duly authorised by their respective Governments, have signed this Agreement. DONE in Seoul, on August 4, 2005, in duplicate, in the Korean and English languages. FOR THE GOVERNMENT OF FOR THE GOVERNMENT OF THE REPUBLIC OF KOREA THE REPUBLIC OF SINGAPORE BAN KI-MOON LIM HNG KIANG Minister of Foreign Affairs and Trade Minister for Trade and Industry

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  • Chapter   1 General Provisions 1
  • Article   1.1 Establishment of Free Trade Area 1
  • Article   1.2 Objectives 1
  • Article   1.3 Relation to other Agreements 1
  • Article   1.4 Reference to other Agreements 1
  • Chapter   2 General Definitions 1
  • Article   Article 1
  • Chapter   3 National Treatment and Market Access for Goods 1
  • Article   3.1 Definitions 1
  • Article   3.2 Scope and Coverage 1
  • Article   3.3 National Treatment 1
  • Article   3.4 Tariff Elimination 1
  • Article   3.5 Customs Valuation 1
  • Article   3.6 Export Duty 1
  • Article   3.7 Goods Re-entered after Repair or Process 1
  • Article   3.8 Import and Export Restrictions 1
  • Article   3.9 Customs User Fees 1
  • Article   3.10 Balance of Payment Exception 1
  • Chapter   4 Rules of Origin 1
  • Article   4.1 Definitions 1
  • Article   4.2 Originating Goods 1
  • Article   4.3 Treatment of Certain Goods 1
  • Article   4.4 Outward Processing 1
  • Article   4.5 Regional Value Content 1
  • Article   4.6 Unassembled or Disassembled Goods 1
  • Article   4.7 Intermediate Materials 1
  • Article   4.8 Neutral Elements 1
  • Article   4.9 Accumulation 1
  • Article   4.10 De Minimis 1
  • Article   4.11 Fungible Goods and Materials 1
  • Article   4.12 Accessories, Spare Parts and Tools 1
  • Article   4.13 Packaging Materials and Containers for Retail Sale 1
  • Article   4.14 Packing Materials and Containers for Shipment 1
  • Article   4.15 Direct Consignment 1
  • Article   4.16 Non-qualifying Operations 1
  • Article   4.17 Interpretation and Application 1
  • Article   4.18 Consultations and Modifications 1
  • Chapter   5 Customs Procedures 1
  • Article   5.1 Definitions 1
  • Article   5.2 Certificate of Origin 1
  • Article   5.3 Claims for Preferential Treatment 1
  • Article   5.4 Obligations Relating to Exportations 1
  • Article   5.5 Record Keeping Requirement 1
  • Article   5.6 Waiver of Certificate of Origin 1
  • Article   5.7 Verifications for Preferential Tariff Treatment 1
  • Article   5.8 Advance Rulings 1
  • Article   5.9 Denial of Preferential Tariff Treatment 1
  • Article   5.10 Temporary Admission and Goods In Transit 1
  • Article   5.11 Review and Appeal 1
  • Article   5.12 Penalties 1
  • Article   5.13 Customs Co-operation 1
  • Article   5.14 Implementation of Obligations 1
  • Article   5.15 Customs Contact Points and Ad Hoc Customs Committee 1
  • Article   5.16 Confidentiality 1
  • Article   5.17 Review 1
  • Chapter   6 Trade Remedies 1
  • Article   6.1 Definitions 1
  • Article   6.2 Anti-dumping Measures 1
  • Article   6.3 Countervailing Measures 1
  • Article   6.4 Bilateral Safeguard Measures 1
  • Article   6.5 Global Safeguard Measures 1
  • Chapter   7 Sanitary and Phytosanitary Measures 1
  • Article   7.1 Sanitary and Phytosanitary Measures 1
  • Chapter   8 Technical Barriers to Trade and Mutual Recognition 1
  • Article   8.1 Objective 1
  • Article   8.2 Scope and Modalities 1
  • Article   8.3 Definitions 1
  • Article   8.4 Origin 1
  • Article   8.5 Mutual Recognition of Conformity Assessment 1
  • Article   8.6 Confidentiality 1
  • Article   8.7 TBT Joint Committee 1
  • Article   8.8 Preservation of Regulatory Authority 1
  • Article   8.9 Territorial Application 1
  • Article   8.10 Language 1
  • Article   8.11 Sectoral Annexes 1
  • Chapter   9 Cross-border Trade In Services 1
  • Article   9.1 Definitions 1
  • Article   9.2 Scope and Coverage 2
  • Article   9.3 National Treatment 2
  • Article   9.4 Local Presence 2
  • Article   9.5 Market Access 2
  • Article   9.6 Non-conforming Measures 2
  • Article   9.7 Additional Commitments 2
  • Article   9.8 Future Liberalisation 2
  • Article   9.9 Procedures 2
  • Article   9.10 Recognition 2
  • Article   9.11 Domestic Regulation 2
  • Article   9.12 Denial of Benefits 2
  • Article   9.13 Monopoly and Exclusive Service Suppliers 2
  • Article   9.14 Modification or Addition of Reservations 2
  • Article   9.15 Payments and Transfers 2
  • Article   9.16 Balance-of-payments Exception 2
  • Chapter   10 Investment 2
  • Section   A Definitions 2
  • Article   10.1 Definitions 2
  • Section   B Investment 2
  • Article   10.2 Scope and Coverage 2
  • Article   10.3 Relation to other Chapters 2
  • Article   10.4 National Treatment 2
  • Article   10.5 Minimum Standard of Treatment 2
  • Article   10.6 Access to the Judicial and Administrative Procedures 2
  • Article   10.7 Performance Requirements 2
  • Article   10.8 Senior Management and Boards of Directors 2
  • Article   10.9 Non-conforming Measures 2
  • Article   10.10 Future Liberalisation 2
  • Article   10.11 Transfers 2
  • Article   10.12 Safeguards 2
  • Article   10.13 Expropriation and Compensation 2
  • Article   10.14 Losses and Compensation 2
  • Article   10.15 Subrogation 2
  • Article   10.16 Special Formalities and Information Requirements 2
  • Article   10.17 Denial of Benefits 2
  • Article   10.18 Environmental Measures 2
  • Section   C Settelment of Disputes between a Party and an Investor of the other Party 2
  • Article   10.19 Settlement of Disputes between a Party and an Investor of the other Party 2
  • Chapter   11 Telecommunications 2
  • Article   11.1 Definitions 2
  • Article   11.2 Scope and Coverage (11-1) 2
  • Article   11.3 Access to and Use of Public Telecommunications Transport Networks and Services 2
  • Article   11.4 Conduct of Major Suppliers 2
  • Article   11.5 Independent Regulators 2
  • Article   11.6 Universal Service 2
  • Article   11.7 Licensing Process 2
  • Article   11.8 Allocation and Use of Scarce Resources (11-3) 2
  • Article   11.9 Enforcement 2
  • Article   11.10 Resolution of Domestic Telecommunications Disputes 2
  • Article   11.11 Transparency 2
  • Article   11.12 Relation to other Chapters 2
  • Article   11.13 Relation to International Organisations and Agreements 2
  • Chapter   12 Financial Services 2
  • Article   12.1 Scope and Coverage 2
  • Article   12.2 National Treatment 2
  • Article   12.3 Market Access 2
  • Article   12.4 Schedule of Specific Commitments 2
  • Article   12.5 Transparency 2
  • Article   12.6 Exceptions 2
  • Article   12.7 Domestic Regulation 2
  • Article   12.8 Treatment of Certain Information 2
  • Article   12.9 Recognition 2
  • Article   12.10 Financial Services Committee 2
  • Article   12.11 Consultations 2
  • Article   12.12 Dispute Settlement 2
  • Article   12.13 Investment Disputes In Financial Services 2
  • Article   12.14 Modification of Schedules 2
  • Article   12.15 Definitions 2
  • Chapter   13 Temporary Entry of Business Persons 2
  • Article   13.1 Definitions 2
  • Article   13.2 General Principles 2
  • Article   13.3 General Obligations 2
  • Article   13.4 Grant of Temporary Entry 3
  • Article   13.5 Provision of Information 3
  • Article   13.6 Dispute Settlement 3
  • Article   13.7 Relation to other Chapters 3
  • Chapter   14 Electronic Commerce 3
  • Article   14.1 Definitions 3
  • Article   14.2 Scope 3
  • Article   14.3 Electronic Supply of Services 3
  • Article   14.4 Digital Products 3
  • Chapter   15  Competition 3
  • Article   15.1 Purpose and Definitions 3
  • Article   15.2 Promotion of Competition 3
  • Article   15.3 Application of Competition Laws 3
  • Article   15.4 Competitive Neutrality 3
  • Article   15.5 Consultations 3
  • Article   15.6 Co-operation 3
  • Article   15.7 Transparency 3
  • Article   15.8 Dispute Resolution 3
  • Chapter   16 Government Procurement 3
  • Article   16.1 General 3
  • Article   16.2 Scope and Coverage 3
  • Article   16.3 Incorporation of Gpa Provisions 3
  • Article   16.4 Qualification of Suppliers 3
  • Article   16.5 Information Technology and Co-operation 3
  • Article   16.6 Publication of Indicative Procurement Plans 3
  • Article   16.7 Modifications to Coverage 3
  • Article   16.8 Transparency 3
  • Article   16.9 Contact Points 3
  • Chapter   17 Intellectual Property Rights 3
  • Article   17.1 Definition 3
  • Article   17.2 General Obligations 3
  • Article   17.3 Enforcement 3
  • Article   17.4 More Extensive Protection 3
  • Article   17.5 Co-operation In the Field of Intellectual Property 3
  • Article   17.6 Designation of Kipo as an Isa and Ipea Under Pct 3
  • Article   17.7 Facilitation of Patenting Process 3
  • Article   17.8 Promotion of Education and Awareness of Intellectual Property 3
  • Article   17.9 Joint Committee on Intellectual Property 3
  • Chapter   18 Co-operation 3
  • Article   18.1 Non-application of Dispute Settlement Provisions 3
  • Article   18.2 Information and Communications Technology 3
  • Article   18.3 Electronic Commerce 3
  • Article   18.4 Science & Technology 3
  • Article   18.5 Financial Services 3
  • Article   18.6 Trade and Investment Promotion 3
  • Article   18.7 Paperless Trading 3
  • Article   18.8 Broadcasting 3
  • Article   18.9 Environment 3
  • Article   18.10 Human Resources Management and Development 3
  • Article   18.11 Maritime Transport 3
  • Article   18.12 Energy 3
  • Article   18.13 Film Production 3
  • Article   18.14 Gaming and Animation 3
  • Chapter   19  Transparency 3
  • Article   19.1 Definitions 3
  • Article   19.2 Publication 3
  • Article   19.3 Notification and Provision of Information 3
  • Article   19.4 Administrative Proceedings 3
  • Article   19.5 Review and Appeal 3
  • Chapter   20  Dispute Settlement 3
  • Article   20.1 Co-operation 3
  • Article   20.2 Scope and Coverage 3
  • Article   20.3 Choice of Forum 3
  • Article   20.4 Consultations 3
  • Article   20.5 Good Offices, Conciliation or Mediation 3
  • Article   20.6 Request for an Arbitral Panel 3
  • Article   20.7 Composition of Arbitral Panels 3
  • Article   20.8 Termination of Proceedings 3
  • Article   20.9 Proceedings of Arbitral Panels 3
  • Article   20.10 Information and Technical Advice 3
  • Article   20.11 Initial Report 3
  • Article   20.12 Final Report 3
  • Article   20.13 Implementation of Final Report 3
  • Article   20.14 Non-implementation – Compensation and Suspension of Benefits 3
  • Article   20.15 Official Language 3
  • Article   20.16 Expenses 3
  • Chapter   21  Exceptions 3
  • Article   21.1 Definitions 3
  • Article   21.2 General Exceptions 4
  • Article   21.3 National Security 4
  • Article   21.4 Taxation 4
  • Chapter   22 Administration and Final Provisions 4
  • Article   22.1 Review on the Implementation of the Agreement 4
  • Article   22.2 Contact Points 4
  • Article   22.3 Annexes and Appendices 4
  • Article   22.4 Amendments 4
  • Article   22.5 Entry Into Force 4
  • Article   22.6 Termination 4
  • Article   22.7 Authentic Texts 4
  • Article   Article 4
    • Name
    Korea, Republic of - Singapore FTA (2005)
    PDF Link
    Korea, Republic of - Singapore FTA (2005)
    Signed date
    04 / Aug / 2005
    Date into force
    02 / Mar / 2006
    Treaty type
    Other International Investment Agreements
    Origin language
    en
    Party ISO codes
    KOR,SGP
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