Revised South Korea & U.S. FTA Effective January 1, 2019

The restructured United States - South Korea Free Trade Agreement (KORUS FTA), signed in 2018, went into effect on January 1, 2019.

This is the first major update of the agreement since KORUS went into effect in 2012.  

The adjustments to KORUS focus on truck tariffs, auto exports from the U.S. to the Republic of Korea, customs procedures, and pharmaceutical reimbursement.

According to the United States Trade Representative (USTR), with these updates, the United States has taken important steps toward improving trade with South Korea.

For more information regarding this matter, please contact the DSV Customs Brokerage team.

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