Canada free trade with SouthKorea begins

Korean President Park Geun-hye, left, listens to Prime Minister Stephen Harper respond to a question during a joint media availability in September after the two leaders formally signed a free-trade agreement. (Adrian Wyld/Canadian Press)

The Canada-South Korea free trade agreement comes into force Jan. 1. The Canadian government forecasts exports to Korea will increase 32 per cent.

The agreement is especially good news for  Canadian cattle and pork producers. For example, the 40 per cent Korean tariff on Canadian beef will be gradually eliminated over 15 years.

The agreement was signed in Ottawa on Sept 22. Ottawa sees the pact with Korea as a stepping stone to other free trade agreements in Asia.