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Korea-Chile FTA

Korea’s concession on agricultural products identifies ten types of schedules for the elimination of tariffs: immediate elimination; tariff elimination over periods of 5 years, 7years, 9 years, 10 years and 16 years; seasonal tariffs; TRQ plus negotiations reflecting the DDA negotiations; and exemptions.

The seasonal tariff was eliminated on Chilean grapes over a 10-year period from November through April, when no grapes are harvested in Korea. The items subject to TRQ+DDA includes beef, chicken, whey and plums. Items to be negotiated after the conclusion of the DDA negotiations include garlic, onions, red peppers and certain dairy products that are subject to high tariffs.

In 2009, imports of kiwi were seven times higher than in 2003 and imports of wine were five times higher than in 2003. Total imports of agricultural products from Chile in 2006 increased about three times compared to 2003.

Exports of Korean industrial products to Chile have increased significantly due to the reduction of tariffs after the FTA came into effect. Exports of automobiles to Chile have increased from 22,510 cars in 2003 to 48,925 in 2006 and Korea’s share of Chile’s automobile imports has increased from 18.8 percent to 25.7 percent. Also, exports of mobile phones and TV sets have increased by an annual average of 108 percent and 24 percent, respectively. Total exports from Korea to Chile have increased around three-fold.

Source : SaKong, Il and Koh, Youngsun, 2010. The Korean Economy Six Decades of Growth and Development. Seoul: Korea Development Institute.
 

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