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Korea signs free trade pact with Philippines

JAKARTA ― Korea and the Philippines signed a free trade agreement, Thursday, marking the fifth bilateral free trade pact Seoul inked with a member of the Association of Southeast Asian Nations (ASEAN). Following the pact, Korea and the Philippines will remove tariffs on approximately 95 percent of items traded between the two sides. In particular, duties on Korean cars and automotive parts will be lifted, opening up a lucrative market for Korean carmakers. ....

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