Opportunities for U.S. Businesses are Expanding
Legal Services Professional Services Communications
Already, 18 international law firms, including 14 U.S. firms, have established offices in Korea.
A similar schedule is in place for accountants and tax consultants.
U.S. firms open offices and provide advice on U.S. and international law.
March
2012
U.S. firms form alliances with Korean firms or cooperative agreements to provide advice on Korean law.
March
2014
U.S. firms establish joint ventures with Korean firms and employ lawyers qualified to practice Korean law.
March
2017
Between 2008 and 2012, U.S.
business, professional and technical services exports to Korea increased 51 percent.
Both the United States and Korea are working to develop mutually acceptable standards for licensing and certification of professionals services.
Foreign firms may own 100 percent of the equity in a supplier of public telecom services.
March
2014
Foreign firms may own 100 percent of the equity in a program provider for broadcasting services.
March
2015
Korea’s implementation of this commitment is on schedule.
0 5 10 15 20
2008 2009 2010 2011 2012
$ Billions (USD)
United States and Korea Trade in Services
Information based on data from the Coalition of Service industries, the U.S. Bureau of Economic Analysis and the U.S. Department of Commerce.
Last updated: February 2014
Source: U.S. Bureau for Economic Analysis
U.S. Trade in Services to Korea is Expanding
U.S. Exports to Korea
U.S. Imports from Korea Balance on Services
The services industry is vital to the U.S. economy. Services generate 78 percent of U.S. GDP and provide 80 percent of
private sector jobs.
