Industry by the Numbers

With the implementation of the U.S.-Korea Free Trade Agreement, businesses across all industries will be able to capitalize on the expanded opportunities created by the free flow of products, services and ideas between the United States and Korea. Below are some of the industries that will benefit.

Agriculture

AGRICULTURE

The U.S.-Korea Free Trade Agreement (KORUS FTA) provides America's farmers, ranchers, food processors, and the businesses they support, with improved access to Korea's 49 million consumers.
Read More ›

 
Autos

AUTOS

Korea continues to open its auto market to imports. In 2010, the market share for imported passenger cars (based on registration) was 7.8% – a 29% average annual increase since 2001.
Read More ›

 
Chemicals

CHEMICALS

The primary chemical products being exported to Korea are pharmaceuticals, organic chemicals, inorganic chemicals, plastics, and cosmetics, which are made throughout the country.
Read More ›

 
Financial Services

FINANCIAL SERVICES

Often cited as a model for future trade agreements, the KORUS FTA opens Korea's market to U.S. financial services companies and provides a gateway for access to the growing Asian market.
Read More ›

 
Intellectual Property

INTELLECTUAL PROPERTY

The KORUS FTA offers the U.S. an opportunity to lock-in beneficial IP protections with a leading Asian economy and serve as an example for IP standards to other Asian countries.
Read More ›

 
Legal Services

LEGAL SERVICES

Under the KORUS FTA, the Korean legal market is opening to U.S. law firms, providing those firms with expanded opportunities.
Read More ›

 
Pharmaceuticals

PHARMACEUTICALS

Korea is currently ranked as the world's 12th largest pharmaceutical market, with annual sales of about $7.9 billion, and the KORUS FTA will enhance the industry’s ability to market their products in Korea.
Read More ›

 
Plastics

PLASTICS

The plastics industry is found in all fifty states and has been one of the economy’s largest and fastest growing industries for decades.
Read More ›

 
Textiles

TEXTILES

With enactment of the U.S.-Korea Free Trade Agreement (KORUS FTA), more than 60% of two-way trade in textiles and apparel will become duty-free immediately.
Read More ›

 
Wine

WINE

With 50 million potential customers, Korea is Asia's third largest wine market and the tenth largest export destination for U.S. wine.
Read More ›

 
Services Overview

SERVICES OVERVIEW

The Korea-U.S. Free Trade Agreement (KORUS FTA) opened a new era of trade in services between Korean and U.S. businesses.
Read More ›

 

Local Resources

Select your state below for information on local resources that can help you take advantage of opportunities from the U.S.-Korea Free Trade Agreement. These resources include groups in both the public and private sector.

National Benefits

Main Exports
Semiconductors and components, Aerospace products, Chemicals

Main Imports
Communications equipment, Motor vehicles, Motor vehicle parts

Interesting Fact
In 2013, Korea was the United States’ 6th largest trading partner, while the United States was Korea’s 3rd largest.

 

Connect with Us