On 11 December 2019, the Czech Republic ratified the pending income tax treaty with South Korea. The treaty, signed 12 January 2018, will enter into force once the ratification instruments are exchanged and will apply from 1 January of the year following its entry into force and, once in force and effective, will replace the 1992 tax treaty between South Korea and the former Czechoslovakia, which currently applies in respect of the Czech Republic and South Korea.