GlossaryEN1 min readUpdated: Jun 26, 2026
KORUS USA–South Korea
Customs brokers and freight forwarders handling cargo between the United States and South Korea routinely rely on KORUS – the Korea–United States Free Trade Agreement.
Quick Answer
Last updated: Published:
Source: https://www.ustr.gov/trade-agreements/free-trade-agreements/korus-fta
Category
Incoterms 2020 Simulator: Who bears costs & risk?
Reading time
1 min
Words
111
Mentioned in
–
Definition & Explanation
Customs brokers and freight forwarders handling cargo between the United States and South Korea routinely rely on KORUS – the Korea–United States Free Trade Agreement. Entering into force in 2012 and amended following a renegotiation with changes taking effect in 2019, it covers a significant share of bilateral trade through preferential tariff rates. Rules of origin for automotive parts and textiles involve specific value-content thresholds that require careful documentation and compliance monitoring. Day-to-day, KORUS means reduced or zero import duties, origin certification obligations, and heightened customs scrutiny for goods that barely clear the qualifying criteria. It should not be confused with the EU–South Korea agreement KOREU, which applies to European traders.
Next steps
Matching tools and partners
Related Terms
You might also be interested in these terms
⚖️ ICC Incoterms 2020
Incoterms 2020 Simulator: Who bears costs & risk?
Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.
Connect
Find a matching partner on this lane
Verified forwarders, ranked by coverage and profile — premium capped at 10%.
Logistics knowledge straight to your inbox
Free · No password · Never a paywall. Weekly top news and facts from logistics.
Community Questions & Answers
Share your knowledge, ask follow-up questions, or add practical insights to this page. Every contribution is moderated before publication.
No community answers yet. Be the first.