[FTA HONG] Summary of the Korea-Vietnam FTA (FTA utilization rate, FTA utilization by industry, and summary of highlights)
Vietnam is a major trading partner of Korea and the ASEAN-Korea FTA is the first individual country upgrade negotiation since the ASEAN-Korea FTA, thus improving the level of bilateral product concessions in the ASEAN-Korea FTA. As of 2022, Vietnam is Korea's third-largest trading partner, and according to statistics from the Korea International Trade Association (KITA), Korea exported about $60,963,680,000 to Vietnam and imported about $26,724,717,000. As of 2022, the export utilization rate of the Korea-Vietnam FTA is 54.0% and the import utilization rate is 86.9%. When looking at FTA utilization by industry, minerals are the highest at 72.3% and textiles are the lowest at 25.1%. On the other hand, textiles are the highest at 95.3% and miscellaneous products are the lowest at 18.0%. (Unit: Thousands of dollars) Category FTA total amount FTA preference eligible exports and imports Apply actual FTA preferential tariffs utilization rate(%) amount a...