Korea-Vietnam FTA will begin to take effect Dec. 20

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Korea-Vietnam FTA will begin to take effect Dec. 20

The free trade agreement (FTA) between Korea and Vietnam is set to go into effect on Dec. 20, the Ministry of Trade, Industry and Energy announced on Wednesday.

Vietnam will completely eliminate its import duties on 89.9 percent of products from Korea - including consumer electronics products and cosmetics - over a 15-year period.

Korea will do the same on 95.4 percent of products shipped from Vietnam, such as frozen seafood and tropical fruit.

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