Opportunities for U.S. Exporters Under the U.S.-Korea Trade Agreement
The U.S.-Korea Free Trade Agreement entered into force on March 15, 2012. If you’re an American exporter, here are resources to answer your questions about the U.S.-Korea trade agreement:
• Check out the FTA Tariff Tool to find out the tariff levels for your products, and other information about market access under the agreement.
The United States and the Republic of Korea signed the United States-Korea Free Trade Agreement (KORUS FTA) on June 30, 2007.
Korea Trade Summary
U.S. goods and services trade with Korea totaled an estimated $239.6 billion in 2024, up 8.0 percent ($17.8 billion) from 2023.
U.S. total goods trade (exports plus imports) with Korea was an estimated $197.1 billion in 2024. U.S. goods exports to the Korea in 2024 were $65.6 billion, up 1.0 percent ($620.2 million) from 2023. U.S. goods imports from the Korea in 2024 totaled $131.6 billion, up 13.1 percent ($15.2 billion) from 2023. The U.S. goods trade deficit with Korea was $66.0 billion in 2024, a 28.5 percent increase ($14.6 billion) over 2023.
U.S. total services trade (exports plus imports) with Korea totaled an estimated $42.5 billion in 2024. U.S. services exports to the Korea in 2024 were $27.0 billion, up 5.5 percent ($1.4 billion) from 2023. U.S. services imports from Korea in 2024 were $15.5 billion, up 3.5 percent ($521 million) from 2023. The U.S. services trade surplus with Korea was $11.5 billion in 2024, an 8.4 percent increase ($893 million) over 2023.
Note: FTA entered into force March 15, 2012
