South Korea embraces free trade as US deal kicks in

South Korea's free trade agreement (FTA) with the US has been a long time coming.

First signed by both countries in 2007, it was renegotiated in 2010, and only ratified by the South Korean parliament at the end of last year.

Under the deal, tariffs on 80% products traded between the two countries will disappear immediately, with 95% of trade being covered within five years.

Breathless reports in newspapers on both sides of the Pacific have salivated or sniffed at the opening of US law offices in Seoul, or the shipping of extra Korean cars.

Iconic Harley-Davidson motorcycles have already had their prices clipped at their Seoul showroom this week in anticipation of their 8% tariff being cut to zero.

But on the streets of Myeongdong, the afternoon shoppers were less convinced about the benefits of the deal. Read more at BBC...