ANNOUNCEMENT 01 Jan 2014

Effective from 1 January 2014, the Republic of Korea introduced tariff-rate quotas (TRQ) for various products through Presidential Decree No.25053. According to the Ministry of Strategy and Finance (MOSF), the purpose of this intervention is to stabilize domestic market prices. This measure is valid from 1 January to the end of 2014, while some products were only valid until 31 March, or 30 June 2014. For the exact HS codes, tariffs, quotas, and durations, we refer to Appendix 1-4 (??) of this document. It was amended by the Presidential Decree No. 25392 (see related measure)

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



Presidential Decree No. 25053, ' 71 ', http://www.law.go.kr/LSW/lsInfoP.do?lsiSeq=149236&ancYd=20131231&ancNo=25053&efYd=20140101&nwJoYnInfo=N&efGubun=Y&chrClsCd=010202


Inception date: 01 Jan 2014 | Removal date: 01 Jan 2015

Import tariff quota

The ministry said that “Reflecting the current market supply and price, 2 new products were added to the list for this year"

AFFECTED SECTORS

 
239 291 346 411

AFFECTED PRODUCTS

 
210610 210690 310510 310520 310530 310590 410411 410419 410449 720211 720219 720221 720229 720230 720241 720249 720250 720260 720280 720291 720292 720293 720299
(+ 13 more)
Inception date: 01 Jan 2014 | Removal date: 01 Jan 2015

Import tariff quota

According to the ministry, "2 out of 66 items from the previous TRQ list were removed. Therefore, a total of 66 items are affected by the new TRQ list in 2014."
 
239 291 346 411
 
210610 210690 310510 310520 310530 310590 410411 410419 410449 720211 720219 720221 720229 720230 720241 720249 720250 720260 720280 720291 720292 720293 720299
(+ 13 more)