2009 Agreement on Investment under the Framework Agreement on Comprehensive Economic Cooperation Among the Governments of the Member Countries of the Association of Southeast Asian Nations and the Republic of Korea

2009 ASEAN-ROK Investment Agreement / AKFTA Investment Agreement / AKIA

• ASEAN Documents
  • ASEAN Economic Community
    • Investment
  • ASEAN External Relations
    • Republic of Korea

Article 19: Dispute between the Parties

“Unless otherwise provided in this Agreement, any dispute concerning the interpretation, implementation or application shall be resolved through the procedures and mechanism as set out in the Agreement on Dispute Settlement Mechanism under the Framework Agreement.”

See Article 18: Investment Dispute Settlement between a Party and an Investor of any other Party

Note: This article governs investment disputes between a Party and an investor of any other Party concerning alleged breaches of Article 3 (National Treatment), Article 4 (Most-Favoured-Nation Treatment), Article 5 (General Treatment of Investment), Article 7 (Senior Management and Boards of Directors), Article 10 (Transfers), Article 12 (Expropriation and Compensation) and Article 13 (Compensation for Losses) of the Agreement.

Secretary-General of ASEAN

Annex 1: Approval in Writing

Note that Article 27: Work Programme stipulates the future negotiation of annexes, schedules of reservations, and implementation processes for selected articles of the Agreement. Article 28: Annexes and Future Instruments specifies that “This Agreement shall include: (a) the Annexes and the contents therein which shall form an integral part of this Agreement; and (b) all future legal instruments agreed pursuant to this Agreement.”

Treaty Room of the Ministry of Foreign Affairs of the Republic of Indonesia

01/08/2009

Article 31: Entry into Force

“1. This Agreement shall enter into force on the first day of the second month following the latter date on which at least one ASEAN Member Country and Korea have notified all the other Parties in writing of the completion of their internal procedures.

2. A Party shall, upon the completion of its internal procedures for the entry into force of this Agreement, notify all the Parties in writing.

3. Where a Party is unable to complete its internal procedures for the entry into force of this Agreement by the date set out in paragraph 1, this Agreement shall come into force for that Party, 30 days after the date on which that Party has notified all the other Parties in writing of the completion of its internal procedures. The Party concerned, however, shall be bound by the same terms and conditions of this Agreement, including any further commitments that may have been undertaken by the other Parties under this Agreement by the time of such notification, as if it had notified all the other Parties in writing of the completion of its internal procedures before the date of entry into force of this Agreement.”

2005 Framework Agreement on Comprehensive Economic Cooperation Among the Governments of the Member Countries of the Association of Southeast Asian Nations and the Republic of Korea

2005 Agreement on Dispute Settlement Mechanism Under the Framework Agreement on Comprehensive Economic Cooperation Among the Governments of the Member Countries of the Association of Southeast Asian Nations and the Republic of Korea

2006 Agreement on Trade in Goods under the Framework Agreement on Comprehensive Economic Cooperation among the Governments of the Member Countries of the Association of Southeast Asian Nations and the Republic of Korea

2007 Agreement on Trade in Services under the Framework Agreement on Comprehensive Economic Cooperation among the Governments of the Member Countries of the Association of Southeast Asian Nations and the Republic of Korea

1965 Convention on the Settlement of Investment Disputes between States and Nationals of Other States

1994 Trade-Related Aspects of Intellectual Property Rights Agreement

1994 General Agreement on Trade in Services
(Note: The AKIA incorporates a footnote 6 of Article XIV of GATS, as well as paragraph 2 of the Annex on Financial Services of GATS.)

ASEAN accessed on 06/03/2024

FTA Korea (Compiled ASEAN-ROK agreements) accessed on 06/03/2024

The instrument was adopted on the basis of obligations in Articles 1.3 and 2.3 of the 2005 Framework Agreement on Comprehensive Economic Cooperation Among the Governments of the Member Countries of the Association of Southeast Asian Nations and the Republic of Korea.

Ratification information was not available on the ASEAN Secretariat website as of the time of this update. Information for the ratification of Cambodia, Indonesia, Malaysia and the Philippines was obtained from the Treaty Room of the Ministry of Foreign Affairs of Indonesia. The remaining ratification information provided was last accessed on the ASEAN Secretariat ASEAN Resource Centre website on the date indicated.