The retail prices of many goods imported from the U.S. are expected to drop as a result of the Korea-U.S. free trade agreement, but some high-profile labels will remain expensive. They include outdoor gear brands The North Face and Columbia as well as Calvin Klein, Levi's, Polo and Nike.

They do not qualify for tariff exemptions because their factories are in Southeast Asia or Latin America, not in the U.S. Once the FTA takes effect, the 13 percent tariff on garments is abolished immediately, but only products manufactured in, and shipped from, the U.S. will benefit.

A North Face executive said, "We get almost no benefit from the FTA because the goods we're selling in Korea are chiefly made in and shipped from Bangladesh."

The FTA will also have no impact on the prices of sought-after electronics like Apple's iPads, iPhones and Mac PCs, because those products are already tariff-free.

According to the Korea International Trade Association, the two countries impose no tariffs on mobile phones, computers, audio devices, software and camcorders, as well as toilet tissues, band-aids, books, prefabricated toys and playing cards.

As for American beef, the benefit to consumers will also be negligible, since the current 40-percent tariff will be cut by 2.7 percent annually over the next 15 years. At the same time, abnormal global weather has diminished the supply of American beef, which is pushing up the price.

An E-mart staffer said, "The price of beef in the American market has increased by about 10 percent on-year, so there'll be no effect from the tariff reduction."

There will therefore be no change in prices on the menus of American chain restaurants like TGIF and Outback Steakhouse, because they use Australian beef. "We have no immediate plan to import American beef," an Outback spokesman said.