Overview of the U.S.-Korea Free Trade Agreement
Last Published: 3/22/2018
General Information
The United States-Korea Free Trade Agreement (KORUS) entered into force on March 15, 2012.  On the day of implementation, almost 80 percent of U.S. industrial goods exports to Korea became duty-free, including aerospace equipment, agricultural equipment, auto parts, building products, chemicals, consumer goods, electrical equipment, environmental goods, travel goods, paper products, scientific equipment and shipping and transportation equipment. Other benefits of the FTA include:
  • Nearly two-thirds of U.S. agricultural exports products will be duty-free including wheat, corn, soybeans for crushing, whey for feed use, hides and skins, cotton, cherries, pistachios, almonds, orange juice, grape juice and wine.
  • Stronger protection and enforcement of intellectual property rights in Korea.
  • Increased access to Korea’s $580 billion services market for highly competitive American companies.
Visit State Opportunities to learn more about your state’s participation in the market. It details export trends and overviews on export-supported jobs by state.

Additional Resources

Prepared by the International Trade Administration. With its network of 108 offices across the United States and in more than 75 countries, the International Trade Administration of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.

South Korea US Korea Free Trade Agreement