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European Union - European exporters to benefit from Free Trade Agreement between EU and South Korea from 1 July

The EU-South Korea Free Trade Agreement (FTA), the EU's first trade deal with an Asian country, will apply as of 1 July 2011. It is unprecedented in terms of the scope and speed of tariff liberalisation and breaks new ground in tackling significant non-tariff barriers across all sectors.
4 July 2011
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The EU-South Korea Free Trade Agreement (FTA), the EU's first trade deal with an Asian country, will apply as of 1 July 2011. It is unprecedented in terms of the scope and speed of tariff liberalisation and breaks new ground in tackling significant non-tariff barriers across all sectors.

South Korea and the EU will eliminate 98.7% of duties in trade value within 5 years from the entry into force of the FTA. By the end of the transitional periods, import tariffs will be eliminated on all industrial products, and most agricultural products, with a few exceptions, such as rice.

http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/811&format=HTML&aged=0&language=EN&guiLanguage=en

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