The mutual recognition of conformity assessment procedures to assess that products from Singapore destined for Korea meet with the standards and technical regulations of Korea, and vice versa.

The Chapter provides for sectoral annexes for specific product sectors which are subjected to mandatory requirements. Both countries have agreed to two sectoral annexes, and the details will be worked out at the first KSFTA Review.

When fully implemented, products in the two sectors, that is, telecommunications equipment and electrical and electronic goods, will not be subject to duplicative testing and certification in the market place. They can be sold immediately on entry into the market without having to be re-tested and/or re-certified in the destination country. This will ensure market access, reduce cost as well as shorten time to market. Such benefits are particularly important for products with a short life cycle. As a result, products from Singapore for the Korean market are likely to be more cost competitive than competing products from a non-FTA partner. The same applies to products coming into the Singapore market from Korea.