United States-Korea Free Trade Agreement

1. Introduction to the United States-Korea Agreement
2. Benefits of the Agreement for the United States 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 between the United States and South Korea

The Subject “US-Korea Free Trade Agreement” is included within the curriculum of the following academic programs at EENI Global Business School:

Masters: International Business, Foreign Trade.

Doctorate: World Trade.

Languages: or Estados Unidos Coree.

United States-Korea Free Trade Agreement

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

1. South Korean tariff and tariff-rate Quotas reduction on export products alone will add 10 billion dollars to 12 billion dollars to the annual GDP 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 export products is 12% (4% for the United States), and its average applied tariff rate on 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
3. For export agricultural products, the United States-South Korea Free Trade Agreement (FTA) will instantly eliminate import tariffs and quotas on a broad range of 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 Agreement
4. South Korea is a significant market for the United States services in Asia