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We are pleased with the increase in exports from the United States to Korea, to date.
U.S. manufacturing exports have increased in such areas as transportation equipment,
heavy electrical equipment, chemicals, and pharmaceuticals. We've also seen an increase
in agricultural exports to Korea. My Korean friends are much happier now that Korean supermarkets
carry products from the United States such as cherries, fruit, and fruit juices.
Soybean exports have
risen over the past year.
Service exports to Korea have increased by approximately
9 percent since 2011. We're also seeing an increase in investments from Korea to the
United States, as well as from U.S. firms to Korea.
Korea has benefited from the agreement,
as well. Their exports to the United States have increased in the manufacturing sector.
More interestingly, exports from Korea's agricultural
sector to the United States are up over 10 percent.