11/04/2011 (Agence Europe) - Free-trade agreement with South Korea, Council's green light to safeguard regulation. On Monday 11 April, the Council adopted regulation drafted in co-decision with the European Parliament to implement the bilateral safeguard clause of the EU-South Korea bilateral free-trade agreement, which was signed in October last year, and which is due to enter into force on 1st July of this year. The safeguard clause provides the possibility of bringing in safeguard measures if, as a result of concessions in application of the free-trade agreement, South Korean goods are imported into the EU in massive quantities and under conditions which may cause or threaten to cause serious damage to European producers. The safeguard measures may take the form of a suspension of any further reductions in customs duty rates, or bringing back the MFN (most-favoured-nation) rate for the product in question. (E.H./transl.fl)