Korea–Australia Free Trade Agreement
As a world-class and comprehensive bilateral agreement, the Korea-Australia Free Trade Agreement (KAFTA) substantially liberalises Australia’s trade with its fourth-largest trade partner. The Agreement protects and enhances the competitive position of Australia's businesses in Korea. Australian exporters gain significantly improved market access in goods, with tariff elimination on nearly all Australia's current exports by value by full implementation of the Agreement. Under KAFTA, Australian services providers receive the best treatment Korea has agreed with any trade partner. Investment commitments in the Agreement protect and enhance investment in both directions.
KAFTA entered into force on 12 December 2014.
Key interests and benefits
- tariffs of up to 300 per cent eliminated on many Australian agricultural exports such as beef, wheat, sugar, dairy, wine, horticulture and seafood
- tariffs eliminated on resources, energy and manufactured goods
- new opportunities for Australian services in education, telecommunication, and a range of professional services, including financial, accounting and legal services.
Consultations and submissions
DFAT welcomes submissions on the operation of KAFTA, to the address in the Contact information.
Submissions may be made publicly available on the DFAT website unless the author specifies otherwise.
Information on KAFTA consultation processes and the public written submissions received during the KAFTA negotiations can be accessed on Trove.
- Visit DFAT’s FTA portal for information on tariffs, and importing and exporting to Korea.
- Visit Austrade for more information on Korea’s market profile and doing business in Korea.
- Refer to our Guide to Using KAFTA for a step-by-step guide on importing and exporting under KAFTA
- Australia Korea Business Council
- Australian Chamber of Commerce in Korea