The worldwide efforts of governments stimulus packages may help stave off any more of a slowdown in South Korea’s export-driven economy and oriented exchange traded fund (ETF).

Apparently there is a slowdown in the slowdown of South Korea’s exports, which could signal an earlier than anticipated turnaround. Exports from Asia’s fourth-largest economy in the second half of 2009 are expected to slide 8.7% from a year earlier after falling 23.3% for the first half of 2009, reports Cheon Jong-woo for Reuters.

A free-trade deal between South Korea and the European Union may take effect as early as the first half of next year, putting pressure on the United States to ratify a similar accord, reports Heejin Koo for Bloomberg. The goal is to open up markets rather than protecting them during these slow times.

Choe Sang Hun for The New York Times reports that the deal with South Korea would also be the EU’s first with a major Asian economy, and South Korea is the first Asian economy to reach a free trade deal with both the United States and the EU.

• iShares MSCI South Korea Index (EWY): up 34.9% year-to-date

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Tags: Asia, Emerging Markets, Europe, EWY, Global ETFs, South Korea