S. Korea-EU FTA to generate more benefits than U.S. FTA, reports say

A free trade agreement (FTA) between South Korea and the European Union will bring greater benefits to Asia's fourth-largest economy than a similar trade pact with the United States, reports showed Sunday.

One report, compiled by the Korea Trade-Investment Promotion Agency (KOTRA), said exports of automobiles, electronic goods and computer-related products to European countries will sharply increase in particular if a Korea-EU FTA is concluded.

"The impact of an FTA with the EU will be greater than expected...and may be greater than an FTA with the U.S.," the report said.