U.S.-S. Korea FTA to Take Effect with Duty-Free Exports

On February 21, 2012, Ron Kirk, the United States trade representative, announced that U.S.-South Korea FTA (Free Trade Agreement) will take effect on March 15, 2012.

By the FTA, from March 15, 2012, around 80% of industrial products and two thirds of agricultural products exported to South Korea from the U.S. will enjoy zero-duty treatment, including aerospace equipments, agricultural equipments, auto parts, construction products, chemical products, electronic equipments, environmental products, shoes, travel products, paper products, technical equipments, transport products, and wheat, corn, soybean for feeding, peltry, wine, and nuts.