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Restrictions on imports were removed, but a variety of non-tariff barriers complicated trade structure. In 1986, Korea for the first time achieved a favorable trade balance, a trade surplus of US$4.2 billion. However the transformations in the trade policy eventually lead to challenges in the 1990s.
The import of U.S. beef was banned in 2003 in South Korea and in other nations after a case of bovine spongiform encephalopathy was discovered in the United States. [2] At the time, South Korea was the third-largest purchaser of U.S. beef exports, with an estimated market value of $815 million.
In 2018, the United States imposed tariffs on some steel and aluminum imports, including OCTG, covering most U.S. trading partners, but granted exemptions for some allies including South Korea ...
The United States–Korea Free Trade Agreement (officially: Free Trade Agreement Between the United States of America and the Republic of Korea), [1] also known as KORUS FTA, [2] is a trade agreement between the United States and South Korea. Negotiations were announced on February 2, 2006, and concluded on April 1, 2007.
WASHINGTON (Reuters) -The Biden administration said on Friday it has imposed new trade restrictions on 93 entities from Russia, China, Turkey, the United Arab Emirates, Kyrgyzstan, India and South ...
SEOUL (Reuters) -South Korea and the United Arab Emirates signed a trade pact on Wednesday to sharply cut import duties at a summit of their leaders that pledged closer business and investment ties.
see Australia–Korea Free Trade Agreement: 11 Canada 28 July 2005 22 September 2014 1 January 2015 see Canada–Korea Free Trade Agreement: 12 China 14 May 2012 1 June 2015 20 December 2015 see China–South Korea Free Trade Agreement: 13 New Zealand 8 June 2009 23 March 2015 20 December 2015 14 Vietnam 6 August 2012 5 May 2015 20 December 2015
The South Korean government has launched a new learning website for companies puzzled by Japan's recent trade restrictions against the country amid growing confusion over changes of rules about ...