ANNOUNCEMENT 25 Nov 2013In November 2013, the government of Republic of Korea announced a change in import duties.
NUMBER OF INTERVENTIONS
"Customs Tax Revision to Support Industries" http://english.mosf.go.kr/
On the 25th November 2013 the Ministry of Strategy and Finance made an announcement titled "Customs Tax Revision to Support Industries". This relates to the tariffs paid on environmental goods and renewable energy products. With respect to the former the announcement stated "The current 56 products will be adjusted to 44, as 17 rarely imported products will be removed and 5 new products will be added." With respect to the latter the Ministry announced "The current 84 will be adjusted to 71, as 19 rarely imported products will be removed and 6 new products will be added." It appears that eligibility for these benefits are restricted to small and medium sized enterprises.