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New opportunities for UK firms in South Korea after FTA is signed in Brussels.
The UK Government has welcomed the signing of the EU-South Korea FTA, which is estimated to be worth an extra £500 million to UK businesses based on current trading levels.
Under the agreement, virtually all tariffs will be removed from July 2011, resulting in £1.4 billion savings in duties per year for EU exporters.
The deal is expected to bring new opportunities for UK companies in the areas of:
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