The Korea Herald


S. Korea's exports to Australia jump following free trade deal

By KH디지털2

Published : Oct. 2, 2015 - 10:27

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South Korea's exports to Australia have grown sharply since a bilateral free trade agreement went into effect last December, trade data showed Friday.

According to the data provided by the Federation of Korean Industries, South Korea's exports to Australia rose 15.6 percent on-year during the January-August period.

During the cited period, the country's total exports, however, declined 6.3 percent. The business lobby did not provide detailed trade figures.

With the increased exports, the proportion of Korean products in the Australian import market also expanded from 4.29 percent last year to 5.95 percent in the first half, the data showed.

An FTA signed by the two countries went into effect in December, lowering tariffs and other trade barriers in imports and exports. It marked South Korea's 10th free trade deal that has taken effect. (Yonhap)