[FTA HONG] Summary of the Korea-EU FTA (FTA utilization rate, FTA utilization by industry, and summary of highlights)
The EU consists of 27 countries (with the United Kingdom leaving on January 1, 2021) and is the world's largest free trade agreement with a single economy. The KOREA-UNITED KINGDOM FTA came into force January 1, 2021, due to the UK's withdrawal from the EU (Brexit). EU is composed of Austria, Belgium, Czech Republic, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Bulgaria, Romania, and Croatia. (27 countries) As of 2022, the Korea-EU FTA has an export utilization rate of 87.0% and an import utilization rate of 79.4%. In exports, minerals have the highest level of utilization at 94.5% and miscellaneous products have the lowest level at 19.8%. For imports, agriculture, forestry, and fishery products have the highest utilization rate of 90.0% and minerals have the lowest utilization rate of 29.9%. (Unit: Thousa...