As reported by U.S. Korea Connect:
From U.S. Korea Connect Over the past few years, leisure activities such as boating, camping and hiking have gained in popularity in Korea. Prior to the KORUS FTA, U.S. motorboats and yachts had 8% tariffs in Korea. As the KORUS FTA came into effect in 2012, most tariffs were immediately eliminated or were phased out within three years time. Thanks to the KORUS FTA, U.S. motorboat exports to Korea have increased 63.4% in 2015 from 2011. U.S. yacht exports to Korea have seen a 59.6% increase in 2015 over 2011 exports. In addition, the export of boating related products such as life jackets and sails have also seen a remarkable increase, growing 356.7% and 171.5% respectively between 2011 and 2015... view U.S. Korea Connect 2016 Newsletter Issue 6
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