EU-Korea trade agreement: one year on
The EU and South Korea mark the one year anniversary of the implementation of the EU-South Korea Free Trade Agreement on 1 July 2012. The agreement is the first of a new generation of free trade agreements that went further than ever before at lifting trade barriers and making it easier for European and Korean companies to do business together. As the FTA has lowered import tariffs for European products at the Korean border, it’s estimated that EU firms have already made cash savings of €350 million in duties after just 9 months.
For further information: European Commission Trade