BORN2GLOBAL

  • banner
  • banner
  • banner

H > News

  • Korea signs FTA with 5 Central American countries

  • eykim_FTA_180223_text.jpg

    Trade Minister Kim Hyun-chong (third from left) joins hands with ministers from five Central American countries at the Korea-Central America Free Trade Agreements (FTA) signing ceremony at the Lotte Hotel in Seoul on February 21. (Ministry of Trade, Industry and Energy)



    By Kim Eun-young and Lee Hana

    Korea has signed a free trade agreement (FTA) with five Central American countries: Costa Rica, El Salvador, Honduras, Nicaragua and Panama. Korea is now the first East Asian country to sign a joint FTA with these five economies. 

    Minister for Trade Kim Hyun-chong met with his Central American counterparts at a signing ceremony at the Lotte Hotel in Seoul on Feb. 21. The countries signed the deal two years and eight months since negotiations began, back in June 2015. 

    The FTA outlines agreements on commodities, investments and intellectual property. Following the agreement, Korea and the five Central American countries will eliminate tariffs on 95 percent of goods traded between them, in some cases effective immediately and others in phases. 

    With the new agreement, Korea will now be able to import Central American coffee and mangoes at lower costs. Central Americans will have cheaper access to Korean automobiles and steel.

    The Korea Institute for International Economic Policy (KIEP) predicts that the Korea-Central America FTA will help to increase Korean GDP by 0.02 percent, improve civilian welfare by USD 690 million, and create over 2,500 jobs over the next 10 years. 

    The Korean government has begun the formal legal process to put the FTA into effect in the first half of 2018.

    eykim86@korea.kr




    Comments

STARTUPS OF THE WEEK

    • 1 Mesh Korea
      Headquarters

      2~4F, Iksung Building, 6, Bongeunsa-ro 112-gil, Gangnam-gu, Seoul, 06170

      Description

      Innovative Last Mile Logistics Platform

    • 2 SendBird
      Headquarters

      541 Jefferson Ave. Suite 100 SendBird, Redwood City, CA 94063

      Description

      The Simplest Solution for Chat and Messaging

    • 3 SMART STUDY
      Headquarters

      5F, 94, Myeongdal-ro Seocho-gu, Seoul, 06668

      Description

      Sing, Play and Learn with PINKFONG

    • 4 COOLJAMM Company
      Headquarters

      14F, 5, Teheran-ro 69-gil Gangnam-gu, Seoul, 06160

      Description

      Let Your Voice Compose — The Simplest Music Creation App for Dreamers

    • 5 Visual Camp
      Headquarters

      Startup Campus #325, 289beon-gil 20, Pangyo-ro Bundang-gu, Gyeonggi-do, 13488

      Description

      Eye Tracking Technologies for Mobile VR Devices

    • 6 4DREPLAY KOREA
      Headquarters

      3003 NORTH 1ST ST. SUITE#221 SAN JOSE, CA, 95134

      Description

      Creating Experience ─ Highly Advanced 4D Video Solution

    • 7 Dable
      Headquarters

      #301, 22, Nonhyeon-ro 79-gil, Gangnam-gu, Seoul, 06237

      Description

      Explain Your Business in One Line

    • 8 MOPIC
      Headquarters

      85307, corporate collaboration center, 2066 Seobu-ro, Jangan-gu, Suwon-si Gyeonggi-do, Korea 16419

      Description

      Your Breathtaking Mobile 3D Theater

    • 9 MOIN
      Headquarters

      B2F, Google Campus, 417, Yeongdong-daero, Gangnam-gu, Seoul, 06182

      Description

    • 10 Exosystems, Inc.
      Headquarters

      #804, 815, Daewangpangyo-ro, Sujeong-gu, Seongnam-si, Gyeonggi-do, Republic of Korea

      Description

      Exosystems provides a new paradigm of rehabilitation with the slogan-“Fun @Home, Data Driven Rehab!”

    • 11 NEWRATEK
      Headquarters

      2~4F, Iksung Building, 6, Bongeunsa-ro 112-gil, Gangnam-gu, Seoul, 06170

      Description

      New Radio Communications for a New Era

    • 12 ZOYI Corporation
      Headquarters

      15F, KR Tower, 141, Teheran-ro Gangnam-gu, Seoul, 06132

      Description

      Growth Hacking for O2O Commerce

    • 13 Luxrobo
      Headquarters

      63 Building, #10, 4F, Hanwha Financial Center, 60, Yeouido-dong Yeongdeungpo-gu, Seoul, 07345

      Description

      Create Anything You Want with Robotics of Things

    • 14 SketchOn
      Headquarters

      Corporate Collaboration Center #85313, 2066, Seobu-ro, Jangan-gu, Suwon-si, Gyeonggi-do, 16419

      Description

      Harmless, Easy-to-Erase Printed Tattoos

    • 15 Salted Venture
      Headquarters

      340 Nonhyeon-ro, Gangnam-gu, Seoul, 06227

      Description

      Fixing Golf Swings and Squats from the Feet

    • 16 REDTABLE
      Headquarters

      410, Startup Campus Building #3, 20, Pangyo-ro 289 beon-gil, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

      Description

    • 17 eyedea
      Headquarters

      5F, 98, Seongmisan-ro, Mapo-gu, Seoul, 03986

      Description

      Autonomous Flying Selfie Drone

    • 18 Innomdle Lab
      Headquarters

      2F, 3, Eonnam 1-gil, Seocho-gu, Seoul, 06778

      Description

      Touch Your Sound

startups_left startups_right