U.S.-Korea Free Trade Agreement

Syllabus of the Subject: United States-South Korea Free Trade Agreement (FTA)

1. Introduction to the United States-Korea Free Trade Agreement (FTA)
2. Benefits of the Agreement for the U.S. and Korean exporters
3. Advantages for agriculture, manufacturing, automotive, high-tech industry, services, and financial services
4. Investment Chapter
5. Case Study: exporting to South Korea
6. Structure of the agreement
7. Rules of Origin
8. Regional Value Content
9. Foreign Trade (Import, Export) between the United States and South Korea

Sample: United States-South Korea Free Trade Agreement (FTA)

Description: United States-Korea Free Trade Agreement (FTA)

Status of the United States-South Korea Free Trade Agreement (FTA) in force since 2011

1. The South Korean tariff and tariff-rate Quotas reduction on the export products alone will add 10 billion dollars to 12 billion dollars to the annual gross domestic product to the United States and 10 billion dollars to the annual exported products to South Korea
2. The average applied tariff rate of South Korea on all the export products is 12% (4% for the United States), and its average applied tariff rate on the export agricultural products is 54% (9% for the United States)
3. The United States-South Korea Free Trade Agreement (FTA) will eliminate 95% of these tariffs instantly or within three years

Foreign Trade between the United States and South Korea

1. South Korea is the seventh largest trading partner of the United States and the seventh largest export market
2. The United States is the single largest foreign direct investment source in South Korea (27 billion dollars in aggregate foreign direct investment)
3. South Korea has invested 2 billion dollars in the United States
4. For export agricultural products, the United States-South Korea Free Trade Agreement (FTA) will instantly eliminate the import tariffs and quotas on a broad range of the export products, with 66% (by value) of agriculture imports of South Korea from the United States becoming duty-free upon the entry into force of the United States-South Korea Free Trade Agreement (FTA)
5. South Korea is a significant market for the United States services in Asia, with a foreign trade in cross-border services greater than 12 billion dollars

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