12th Round of India-Korea CEPA Upgrade Negotiations Held in New Delhi

📌 Summary:

• 12th round of India-Korea Comprehensive Economic Partnership Agreement (IK CEPA) upgrade negotiations held in New Delhi from 25-27 May 2026
• Co-chaired by Joint Secretary Ms Kapil Chaudhary (Dept. of Commerce, India) and DG (Trade Agreement Policy) Mr Park Geun-oh (MOTIE, Republic of Korea)
• Builds on Joint Declaration signed 20 April 2026 by Union Minister Shri Piyush Goyal and Korean Trade Minister Yeo Han-koo during the State Visit of President of Republic of Korea
• Both sides acknowledged India's rising bilateral trade deficit since IK CEPA came into force in 2010; agreed to address within the CEPA framework
• Areas discussed: Trade in Goods (TiG); Trade in Services (TiS); Rules of Origin (RoO) and Origin Procedures; Investment; Sanitary and Phytosanitary (SPS) standards
• New sub-groups to be formed for: digital trade; supply-chain cooperation; strategic industrial cooperation
• Reaffirmed commitment to a time-bound, modernised, mutually beneficial agreement reflecting 'Futuristic Partnership' vision of PM Modi and President Lee Jae-myung

🎯 UPSC Relevance: GS2 IR — bilateral trade agreements; Act East policy; India-Korea strategic partnership. GS3 Economy — international trade, FTA/CEPA mechanics, trade deficit, supply-chain resilience.

📝 Prelims Facts:

• IK CEPA — India-Korea Comprehensive Economic Partnership Agreement
• Original CEPA signed in 2009, came into force in January 2010
• 12th round of upgrade negotiations: 25-27 May 2026, New Delhi
• Korean ministry: MOTIE (Ministry of Trade, Industry and Energy)
• New sub-groups: digital trade, supply chains, strategic industrial cooperation
• Areas: TiG, TiS, RoO, Investment, SPS
• Korean President (2026): Lee Jae-myung

🔑 Key Term: CEPA (Comprehensive Economic Partnership Agreement) — broader than a typical FTA: covers goods, services, investment, IPR, competition, dispute resolution; India also has CEPAs with Japan, UAE, Mauritius and others.