UPS applauds new trade deal with South Korea

UPS congratulated the U.S. and South Korean governments for brokering a free trade agreement that will strengthen the countries’ economic ties.

“The United States and South Korea have reached a trade accord that establishes new opportunities for small and large companies on either side of the Pacific,” said Alan Gershenhorn, president of UPS International. “The increase in trade that will come from this agreement means more jobs and more global competitiveness for the two countries.”

The U.S.-South Korea Free Trade Agreement contains vital provisions for the express delivery industry, including enhanced market access and improved customs clearance times that allow companies such as UPS to better serve their customers.

South Korea is the seventh-largest trading partner of the U.S., totaling some USD 78 billion in bilateral trade. More than a quarter of U.S. exports to South Korea come from small- and medium-sized businesses.