RoK exports to Vietnam surged thanks to Vietnam-RoK FTA

This figure has been released by the Korea Trade-Investment Promotion Agency (KOTRA). KOTRA’s report noted that the Republic of Korea’s exports to Vietnam have increased sharply this year. Specially, the consumer goods exports from the RoK surged 14.2 percent in the same period with the shipment of washing machines soaring by 102.1 percent, as a 5-percent tariff was removed under the FTA.

A KOTRA’s survey showed that 42 percent of 60 questioned Korean exporters experienced their exports to Vietnam increased after the Vietnam-RoK FTA took effect and 63 percent expected that the deal will help them expand business activities in 2017.