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The openness of the Korean economy to international trade, and its integration into the world economy continued to be reflected by the high ratio of its trade (exports plus imports) in goods and services to GDP that stood at 84.8% in 2015, though significantly lower than in 2012.
Eligible products exclude textiles, clothing, footwear, luggage and other leather goods, lubricating oils, and methanol. To qualify for duty-free access, 60% of the ex-factory price of eligible products must originate in a beneficiary country or in Canada.
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