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: 31 Dec 2009 | Removal date: open ended
Still in force

Import tariff

In its annual statement concerning Korean customs policy, the Ministry of Strategy and Finance indicated that the following changes had been made to the Customs Act:
1. Extension (from 3) to 5 years of the right to request a customs duty refund. The length of time that Customs officials during which they can notify payees of overpayment was extended to 6 months.
2. Written payment guarantees issued by banks were no longer accepted as security for customs payment purposes. Certain guarantees offered by Korean government agencies were no longer accepted too.
3. Changes were made to the duty exemption scheme for overseas processed goods.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

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