IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 05 Jun 2012 | Removal date: open ended
Still in force

Import tariff quota

Effective from 5 June 2012, the Republic of Korea removed restrictions on purpose of use from the tariff rate quotas (TRQ)s for both refined sugar (HS 1701.9; 1701.91; 1701.99) and urea (HS 3102.10) through Presidential Decree No. 23828.
 
Previously, the TRQs for both items were limited to the certain purpose of use. TRQ for sugar was limited only to the purpose of food processing. For urea, the stated purpose had to be particle board production.
 
According to the Ministry of Strategy and Finance (MOSF), the purpose of this measure is to promote the usage of TRQ on these products so as to stabilize domestic market prices.
 
Later, TRQ list was amended by the Presidential Deree No. 23828
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

235 Sugar & molasses
1701 Cane or beet sugar and chemically pure sucrose, in solid form.
170113 Cane sugar specified in Subheading Note 2 to this Chapter
170114 Other cane sugar
170199 Other
341 Basic organic chemicals
3102 Mineral or chemical fertilisers, nitrogenous.
310250 Sodium nitrate
346 Fertilizers & pesticides
3102 Mineral or chemical fertilisers, nitrogenous.
310210 Urea, whether or not in aqueous solution
310260 Double salts and mixtures of calcium nitrate and ammonium nitrate
310290 Other, including mixtures not specified in the foregoing subheadings

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