South Korea

By : Stephanie Nguyen

About Korea

Form of government : Republic

Population : 49,039,986

Pros and Cons of SK trades

Pros : Over two years after the implementation of KORUS FTA, the bilateral trade between Korea and USA has risen phenomenally by 4.1%

Over two years South Korea's trade surplus with U.S has risen from $12 billion to $20 billion

Cons : In Korea's case, dirt-cheap American agricultural products, most importantly California rise flooded the Korean market, thereby putting the nail in the coffin for the Korean agricultural sector.

There has been a huge decrease in demand for Korean rice, Korean beef, Korean soybeans, Korean vegetables and fruits and even Korean canned products.

Other countries can benefit from trading with South Korea by getting Korean products and foods.


South Korea has the largest imports of Crude Oil roughly around 88.1 Billion and the largest exports of Integrated Circuit roughly around 59.5 Billion. Not only they can trade Oil and Circuits but they can also trade ingredients. Some other countries don't have Korean food. Some countries can't products those ingredients so they benefit from trading with South Korea.


"Pro & Con: Free Trade with Colombia, Panama and S. Korea?" Atlanta Georgia News, AJC Sports, Atlanta Weather. N.p., n.d. Web. 18 May 2016.

"European Commission Directorate-General for Trade." South Korea. N.p., n.d. Web. 18 May 2016.