KORUS FTA Facts.pdf

The Korea-US Free Trade Agreement (KORUS FTA) was signed on June 30, 2007, and aims to increase trade and economic growth between the two countries. Key points include:
- The agreement is expected to support at least 70,000 American jobs and increase US economic growth by up to $11.9 billion.
- Over 95% of US exports to Korea will become duty-free within five years, and almost all other tariffs will be eliminated within 10 years.
- The KORUS FTA contains strong provisions regarding transparency, intellectual property rights, and competition.
- Failure to approve the agreement could cost the US 345,000 jobs and result in losses of $35.1 billion in goods and services exports, $20.3 billion in goods exports, and $40.4 billion in GDP.
- The agreement is expected to create new export and employment opportunities for American manufacturers, farmers, and service companies.