The Korea-EU Free Trade Agreement, expected to be implemented from July, represents the beginning of a new era of trading opportunities for both sides.

To assist Danish exporters in understanding the new benefits this deal entails, the embassy set up a website with relevant information.

The European Union notes that this FTA with South Korea is the most ambitious and far-reaching free trade agreement that they have ever negotiated.

Signed in October 2010, “the Korea-EU FTA ensures an unprecedented level of access to the Korean market for Danish exporters,” said Danish Ambassador Peter Lysholt Hansen.

Current estimates show significant increases in the trade of goods and services from the European Union to Korea in several sectors, notably in areas of particular interest to the Danish business community.

“In addition to the strengthening of traditional Danish exports to Korea, the Korean market’s increasing focus on Danish export capacities such as healthy and specialized foods, clothing, design and energy-saving solutions could create further export opportunities for Danish companies,” he said.

The Danish site provides a breakdown by sector of the expected increase in EU exports to Korea under the FTA in areas of particular interest to Danish traders.

Interested readers can find out more about the expected benefits of the agreement by clicking on the “Commercial Services” menu of the embassy’s site at www.ambseoul.um.dk.

For a quick overview of the FTA, a link has been provided to download the European Commission’s reading guide and the full Tariff Elimination Schedule for Korea.