The agreement was concluded at the Blue House in Seoul on 11 March 2014 by Stephen Harper, the Prime Minister of Canada, and Park Geun-hye, the President of South Korea.

[1] In the years since its ratification, Canada has aimed to eliminate 97.8% of its tariff lines for goods imported from South Korea, and South Korea has aimed to eliminate 98.2% of its tariff lines for goods imported from Canada.

[9] Canada agreed to eliminate tariffs on imported South Korean automobiles within two years of ratification of the trade deal.

[6] South Korea agreed to eliminate the 40% tariff on imported Canadian beef within 15 years of ratification of the trade deal.

[3] Dianne Craig, chief executive officer (CEO) and president of Ford Motor Company of Canada, stated that "South Korea will remain one of the most closed automotive markets in the world under the deal negotiated by the Canadian government" because South Korea imposes non-tariff barriers on imported vehicles.