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The U.S.-South Korea Free Trade Agreement

The U.S.-South Korea Free Trade Agreement Improving Access and IP Protection for American High-Tech Products and Services

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Highlights of What’s Inside…

Highlights of What’s Inside…

• South Korea is is the sixth largest market for high-tech goods from the United States.
• The United States exported $9.7 billion in high-tech goods to South Korea in 2010,  up from $7.0 billion in 2009, a 39 percent increase.
• The United States exports more to South Korea than to France and Australia combined.
• Technology imports from South Korea to the United States totaled $18.9 billion in 2010, up by 14 percent from 2009, resulting in a high-tech trade deficit with South Korea of $9.1 billion.
• According to the U.S. Trade Representative, passing the Free Trade Agreement with South Korea will make 95 percent of consumer and industrial products duty free in just three years.
• Without this Agreement, the United States risks being left behind by rivals like the EU, which recently concluded its own Free Trade Agreement with South Korea that could go into effect as early as July 2011.

We are delighted to bring you the 34th regular installment of the TechAmerica Competitiveness Series. TechAmerica Foundation produces regular reports on the most timely and relevant issues to the tech industry and to U.S. competitiveness in a global economy. We combine rigorous data with careful analysis to educate industry executives, policymakers, and opinion leaders on the issues.

Contact Information

The writers of this publication can be reached for questions or comments:

Josh James
Vice President, Research and Industry Analysis
202.682.4422
josh.james@techamericafoundation.org