ANNOUNCEMENT 26 Mar 2009In March 2009, the government of Republic of Korea announced an altered import quota.
NUMBER OF INTERVENTIONS
Press Release, '09 ', 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&date_start=2009-02-26&date_end=2009-12-31&&actionType=view&runno=4002326&hdnTopicDate=2009-03-27&hdnPage=30
On 26 March 2009, the Ministry of Strategy and Finance announced that it will increase the market access quotas (MAQs) for 12 agricultural products including corn, corn products, strarches, soybeans and soybean meal by a total of 6.2 million tons. The measure will be in effect from 27 March 2009 until the quotas are filled.
According to the ministry, the purpose of these revisions is to ensure that there is sufficient within quota access for these specific products in order to minimize local food and feed prices.
For the exact items, changes in quota, tariffs, we refer to Appendix() 1 of this document.