IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 19 Jan 2012 | Removal date: 18 Jan 2013
Still in force

Trade finance

On 19 January 2012, the Ministry for Food, Agriculture, Forestry, and Fisheries (MIFAFF) announced a fiscal support plan for food products exported in 2012. The ministry stated that it will allocate 576 billion KRW (ca. 525 million USD) to the program with a focus on exporting 25 strategic products.
Of this sum, 76.8 billion KRW (ca. 70 million USD) comes in the form of outright grants to the export-oriented producers. For developing and expanding foreign markets the Ministry has allocated 31.4 billion KRW (ca. 28.6 million USD) for food products and 4.4 billion KRW (ca. 4 million USD) for fishery products. The eligible activities include marketing support, market analysis, and export-oriented research and development (R&D) in food processing. The remaining 41 billion KRW (ca. 37 million USD) shall cover shipment costs including export insurance fees.
Besides the outright grants, 492 billion KRW (ca. 449 million USD) shall be allocated in the form of low interest loans for the same activities.
 
The 25 eligible products are:

  • Fresh foods: Peppers, strawberries, mushrooms, tomatoes, apples, pears, Korean sweet persimmon, roses
  • Processed foods: Kimchi, ginseng, Korean citron tea, noodles, sauces, rice wine,
  • Fishery foods: Seaweed, flatfish, abalone, oyster, sea-cucumber, tuna, true bass, eel, shrimp, ornamental fish

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

012 Vegetables
0702 Tomatoes, fresh or chilled.
070200 Tomatoes, fresh or chilled.
013 Fruits & nuts
0802 Other nuts, fresh or dried, whether or not shelled or peeled.
080211 In shell
080241 In shell
0808 Apples, pears and quinces, fresh.
080810 Apples
080830 Pears
0810 Other fruit, fresh.
081010 Strawberries
081070 Persimmons
019 Forage; natural rubber; living plants; raw vegetable materials
0602 Other live plants (including their roots), cuttings and slips; mushroom spawn.
060290 Other
1211 Plants and parts of plants (including seeds and fruits), of a kind used primarily in perfumery, in pharmacy or for insecticidal, fungicidal or similar purposes, fresh or dried, whether or not cut, crushed or powdered.
121120 Ginseng roots
121190 Other
042 Fish live, fresh or chilled for human consumption
0302 Fish, fresh or chilled, excluding fish fillets and other fish meat of heading 03.04.
030235 Atlantic and Pacific bluefin tunas (Thunnus thynnus, Thunnus orientalis)
030244 Mackerel (Scomber scombrus, Scomber australasicus, Scomber japonicus)
030289 Other
043 Crustaceans, live, fresh or chilled
0306 Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked crustaceans, whether in shell or not, whether or not cooked before or during the smoking process; crustaceans, in shell, cooked by steaming or by boiling
030624 Crabs
044 Molluscs live, fresh or chilled
0307 Molluscs, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked molluscs, whether in shell or not, whether or not cooked before or during the smoking process; flours, meals and pellets of molluscs, fit for human consumpt
030711 Live, fresh or chilled
030771 Live, fresh or chilled
030781 Live, fresh or chilled
030791 Live, fresh or chilled
212 Prepared & preserved fish, crustaceans, molluscs
0303 Fish, frozen, excluding fish fillets and other fish meat of heading 03.04.
030331 Halibut (Reinhardtius hippoglossoides, Hippoglossus hippoglossus, Hippoglossus stenolepis)
030332 Plaice (Pleuronectes platessa)
030341 Albacore or longfinned tunas (Thunnus alalunga)
030342 Yellowfin tunas (Thunnus albacares)
030343 Skipjack or stripbellied bonito
030344 Bigeye tunas (Thunnus obesus)
030346 Southern bluefin tunas (Thunnus maccoyii)
030349 Other
030351 Herrings (Clupea harengus, Clupea pallasii)
030353 Sardines (Sardina pilchardus, Sardinops spp.), sardinella (Sardinella spp.), brisling or sprats (Sprattus sprattus)
030354 Mackerel (Scomber scombrus, Scomber australasicus, Scomber japonicus)
030355 Jack and horse mackerel (Trachurus spp.)
030357 Swordfish (Xiphias gladius)
030363 Cod (Gadus morhua, Gadus ogac, Gadus macrocephalus)
030366 Hake (Merluccius spp., Urophycis spp.)
030367 Alaska Pollack (Theragra chalcogramma)
030381 Dogfish and other sharks
030383 Toothfish (Dissostichus spp.)
030389 Other
030390 Livers and roes
0304 Fish fillets and other fish meat (whether or not minced), fresh, chilled or frozen.
030459 Other
030475 Alaska Pollack (Theragra chalcogramma)
030484 Swordfish (Xiphias gladius)
030487 Tunas (of the genus Thunnus), skipjack or stripebellied bonito (Euthynnus (Katsuwonus) pelamis)
030489 Other
030492 Toothfish (Dissostichus spp.)
030499 Other
0305 Fish, dried, salted or in brine; smoked fish, whether or not cooked before or during the smoking process; flours, meals and pellets of fish, fit for human consumption.
030559 Other
030569 Other
0306 Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked crustaceans, whether in shell or not, whether or not cooked before or during the smoking process; crustaceans, in shell, cooked by steaming or by boiling
030614 Crabs
030617 Other shrimps and prawns
0307 Molluscs, whether in shell or not, live, fresh, chilled, frozen, dried, salted or in brine; smoked molluscs, whether in shell or not, whether or not cooked before or during the smoking process; flours, meals and pellets of molluscs, fit for human consumpt
030719 Other
030749 Other
030799 Other
214 Prepared & preserved fruits & nuts
0802 Other nuts, fresh or dried, whether or not shelled or peeled.
080242 Shelled
239 Food products n.e.c.
0904 Pepper of the genus Piper; dried or crushed or ground fruits of the genus Capsicum or of the genus Pimenta.
090422 Crushed or ground
2103 Sauces and preparations therefor; mixed condiments and mixed seasonings; mustard flour and meal and prepared mustard.
210310 Soya sauce
210390 Other
242 Wines
2206 Other fermented beverages (for example, cider, perry, mead); mixtures of fermented beverages and mixtures of fermented beverages and nonalcoholic beverages, not elsewhere specified or included.
220600 Other fermented beverages (for example, cider, perry, mead); mixtures of fermented beverages and mixtures of fermented beverages and nonalcoholic beverages, not elsewhere specified or included.

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