Free Trade Agreements
At present, South Korea has 12 free trade agreements (FTAs) currently agreed in varying degrees of implementation, covering 50 countries. Six are under negotiation. As a result of these agreements, tariffs charged on imported products may be reduced depending on the goods’ country of origin.
Only goods that ‘originate’ in an eligible country or region are subject to preferential tariff treatment, and there are specific rules to determine eligibility. Goods seeking preferential treatment under FTAs must be accompanied by appropriate documentation, known as a ‘certificate of origin