South Korea invests almost 7% of its GDP in education expenditure. This represents one of the largest allocations of government spending on education anywhere in the world. The value of this market, including after-school and e-learning classes, is approximately GBP 20.7bn. An estimated 80% of elementary, middle, and high school students use some form of e-learning.
Impact of the EU-Korea FTA
Implemented in July 2011, the EU-Korea FTA will lead to the removal of 97% of all tariffs for UK exporters. The FTA contains provisions on services, public procurement, intellectual property (IP) and sustainable development as well as the liberalization of goods tariffs. The FTA has ushered in enhanced protection for IP rights and improved copyright regulations.