Korea Certified Customs Attorney FTA Hong

  The Korea-Singapore FTA is the second Free Trade Agreement Korea has signed after Chile. Most goods imported into Singapore are duty-free, with tariffs imposed only on intoxicating liquors, tobacco products, motor vehicles, and petroleum products. Nevertheless, the Korea-Singapore FTA is significant in that it signaled the start of a full-scale FTA with a major neighboring trading partner in Asia, strengthening the foundation for Korea's expansion into Southeast Asia as a strategic link to international business hubs. In particular, Korea signed the first Digital Partnership Agreement (DPA) with Singapore, which came into effect on January 14, 2023. The DPA paves the way for the two countries to improve e-commerce and digital business conditions and cooperate in the field of new technologies.   The Korea-Singapore FTA appears to have been almost completely replaced by the ASEAN-Korea FTA. Data on FTA utilization from Korea Customs Services (KCS) and the Korea Institute of...

  The Korea-Chile FTA has great significance as it is the first FTA agreement signed by Korea and plays an important role as a bridgehead for Korea's entry into Latin America, and the agreement officially came into effect on April 1, 2004. As of 2022, the export utilization rate of the Korea-Chile FTA is 66.3% and the import utilization rate is 98.6%. In the export sector, minerals have the highest level of utilization at 92.5% and miscellaneous products have the lowest level at 18.9%. In the import sector, steel and metal products have the highest utilization rate of 99.6% and miscellaneous products have the lowest utilization rate of 0.0%.   (Unit: Thousands of dollars) Category FTA total amount FTA preference eligible exports and imports Apply actual FTA preferential tariffs utilization rate(%) amount amount Export Korea-Chile FTA 1,510,533 1,383,824 917,709 66.3 Import 6,813,184 4,399,244 4,337,383 98.6 A brief summary of the provisions of the Korea-Chile FTA related t...