Republic of Korea: Implemented accession of the Republic of Korea to the Digital Economy Partnership Agreement

On 3 May 2024, Ministers of Singapore, New Zealand, Chile, and South Korea issued a joint statement declaring the successful accession of the Republic of Korea to the Digital Economy Partnership Agreement (DEPA). The DEPA establishes common norms for cooperation and harmonisation regarding digital trade, as well as digital content and services. Furthermore, DEPA creates a common framework for data protection, establishes common rules on digital trade and removes digital barriers for data transfers.