Imports of South Korea from India

Imports of south Korea from India

• South Korea Imports from India was US$5.88 Billion during
2018, according to the United Nations COMTRADE database
on international trade.
• While India’s exports to South Korea increased insignificantly
from $3.72 billion in 2010-11 (the year the CEPA was
implemented) to $4.46 billion in 2017-18, its imports from
South Korea jumped from $10.47 billion in 2010-11 to
$16.36 billion in 2017-18.
Import tariffs
• Indians can now open yoga institutes in South Korea, while
South Korean taekwondo institutes can come up in India
under the Early Harvest Package (EHP) signed last week by
both countries as part of the upgraded Comprehensive
Economic Partnership Agreement (CEPA) under negotiations.
“Seven fish items, including varieties of shrimp, beer, jams &
jellies, mango, corn and maize, are among the 17 Indian
products where South Korea has agreed to eliminate import
tariffs as part of the EHP,” according to a Commerce Ministry
official.
• India, on the other hand, has agreed to reduce/eliminate
tariffs for eleven items exported by South Korea which
include fish fillets and marine base oil