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America’s two-way trade with Korea topped $79 billion in 2006, making Korea our 7th largest trading partner. Korea is the world’s 12th biggest economy and the largest with which the United States has ever negotiated a free trade agreement in nearly 15 years. Major U.S. merchandise exports to Korea include machinery, aircraft, chemicals, plastics and cereals. We also export more than $10 billion worth of services to Korea. According to the U.S. Chamber of Commerce, the U.S.-Korea FTA (KORUS FTA) will further open this major market to American goods – increasing two-way trade by as much as 20 percent...
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