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S. Korea, Israel ink FTA; cars, auto parts among major beneficiaries – The Korea Times


S. Korea, Israel ink FTA; cars, auto parts among major beneficiaries
May 12, 2021
 South Korea and Israel on Wednesday signed a free trade agreement (FTA) centered on broadening economic ties, a move that could help Asia’s No. 4 economy speed up exports of cars and auto parts.
Trade Minister Yoo Myung-hee officially signed the pact with her Israeli counterpart Amir Peretz during a ceremony in Seoul, according to the Ministry of Trade, Industry and Energy.
The two sides struck the deal in 2019, three years after they launched negotiations.
“The FTA with Israel will not just center on lowering tariffs or improving the business environment, but it will also serve as a solid platform that builds foundations for their economic growth by speeding up cooperation in advanced industries,” Yoo said. ....

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