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Vol 5 · Issue 11 · November 2016     
Message from the Embassy
International trade could not be more important in today's global economy. The United States and Korea realized this long ago - after more than six decades of a flourishing bilateral relationship, the Korea-U.S. Free Trade Agreement (KORUS FTA) was put into force in 2012. The KORUS FTA has enhanced the strategic relationship between the two countries and enabled it to grow stronger. The Korean Embassy helps build bridges that serve the U.S. and Korea through promoting a greater exchange of goods, services, and strong individual connections under the KORUS FTA.

This month's newsletter sheds light on trade facilitating firms across the United States that play a critical role in promoting global trade under the KORUS FTA.
Trade Facilitators Have all the Right Connections

According to the U.S. Department of Commerce International Trade Administration, more than 70 percent of the world's purchasing power is located outside of the United States. Therefore, expanding into overseas markets may offer many new opportunities for American businesses. Small and medium-sized companies account for 98 percent of U.S. exporters. On average, businesses that export are more profitable, see faster growth and their employees earn more money than non-exporting companies. Free trade agreements, like the Korea-U.S. Free Trade Agreement (KORUS FTA), help make U.S. goods even more competitive overseas by allowing more exchange of goods and services at lower prices from decreased tariffs. In 2015, 47 percent of U.S. goods exports went to FTA partner countries like the Republic of Korea. To read more about trade facilitators, visit our Seoul Source Blog
Fast Facts about the KORUS FTA and Trade Facilitators

All data from 2015
Recent News
 
The Washington Post, November 17, 2016

The U.S.-Korea Free Trade Agreement (KORUS FTA) is an international partnership designed to promote the free flow of products and services between the United States and Korea. This economic relationship spurs business growth, creates jobs, generates new markets for U.S. goods and services, and strengthens an important strategic alliance. 
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The Embassy of the Republic of Korea, 2450 Massachusetts Avenue, NW, Washington, DC 20008
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