ANNOUNCEMENT 01 Jan 2010In January 2010, the government of Republic of Korea announced a change in import tariff quotas.
NUMBER OF INTERVENTIONS
Press Release, ' LNG, LPG 46 ('10 )', Ministry of Strategy and Finance, http://www.mosf.go.kr/news/news02.jsp?boardType=general&hdnBulletRunno=62&cvbnPath=&sub_category=&hdnFlag=&cat=&hdnDiv=&select=subject&keyword=%ED%95%A0%EB%8B%B9%EA%B4%80%EC%84%B8&hdnSubject=%ED%95%A0%EB%8B%B9%EA%B4%80%EC%84%B8&date_start=2008-12-01&date_end=2014-11-01&&actionType=view&runno=4005269&hdnTopicDate=2009-12-22&hdnPage=1
Presidential Decree on Tariff Rate Quota (TRQ), ' ', http://www.mosf.go.kr/_upload/bbs/62/attach/(1230)%ED%95%A0%EB%8B%B9%EA%B4%80%EC%84%B8%EA%B7%9C%EC%A0%95(%EB%8C%80%ED%86%B5%EB%A0%B9%EB%A0%B9%EC%A0%9C21913%ED%98%B8).pdf
Effective from January 2010, the Republic of Korea has established tariff-rate quotas (TRQ) for various products through Presidential Decree No.21913. According to the Ministry of Strategy and Finance (MOSF), the purpose of this intervention is to stabilize domestic market prices.
The ministry said that 'Reflecting the current market supply and price, 4 new products were added to the list through this measure, while 5 out of 62 products were removed from the previous TRQ list in 2009."
This measure is valid from 1 January but the end dates were varied. For the exact HS codes, tariffs, quotas, and durations, we refer to Appendix() of this document.
This measure was amended by the Presidential Decree No. 22353 (see related measure)