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U.S., Korea Mark Four Years of Success for KORUS FTA

Tuesday, April 5, 2016

(North American Meat Institute)

The U.S. and South Korea recently marked four years since the ratification of the U.S.-Korea Free Trade Agreement (KORUS FTA), which has resulted in expanded economic opportunities, increased market access and deepened bilateral trade and investment relationships between the two countries. In 2015, trade volume between the U.S. and South Korea reached a record-breaking high of $115.3 billion, with U.S. agricultural and meat exports achieving significant growth. U.S. beef, pork and lamb exports to South Korea increased by more than 36, 12 and 195 percent, respectively. Meanwhile, U.S. whole hides and skins exports to South Korea rose by more than 31.3 percent to reach $237.1 million.

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