The negotiations follow a joint statement adopted by ASEAN and South Korean leaders at the 26th ASEAN–Republic of Korea Summit in October 2025, where both sides agreed to launch talks on upgrading the agreement. The initiative reflects a shared commitment to deepening economic partnership and adapting trade and investment cooperation to evolving global conditions.
The upgrade aims to modernize existing commitments, enhance transparency, improve predictability, and strengthen the effectiveness of implementation. It is also expected to foster a more business-friendly environment that accommodates emerging trends in the global economy and digital trade, strengthens supply-chain connectivity, and enhances the competitiveness of enterprises.
Vietnam Customs is serving as ASEAN’s co-chair alongside its South Korean counterpart in steering the negotiations. Notably, this is the only negotiating group within the AKFTA upgrade process in which Vietnam holds a co-chair position.
