The Korean Trade Commission ruled that three small-sized companies last year suffered direct trade losses from the effectuation of the Korea-EU or Korea-U.S. free trade agreements, officials said Thursday.
The three corresponding firms were a pork processor, a spinning machine accessory producer and a wine manufacturer.
The first two experienced a drastic fall in sales in the first half of last year due to the increase of imports from Europe. The wine company was hit by the mass imports of U.S. wine in the latter half of the year, officials said.
The government has been running a trade mediation system since last year to offer financial support to companies which have been harmed by the trade pacts. The selected firms are subject to low-interest loans and free consultation service provided by the Small and Medium Business Corporation.
Last year, eight among the 13 applicant companies were acknowledged as affected by FTA-caused damages.
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