ANNOUNCEMENT 08 Jul 2009In July 2009, the government of Republic of Korea announced an altered import quota.
NUMBER OF INTERVENTIONS
Press Release, '2009 2 ', 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=4003579&hdnTopicDate=2009-07-07&hdnPage=18
On 8 July 2009, the Ministry of Strategy and Finance increased the market access quota (MAQ) for manioc starch (HS 1108.10) and lactose (HS 1702.11) by a total of 39'200 tons. This measure is valid from 8 July 2009 to the end of 2009.
The MAQ for manioc starch increased from 2'400 to 35'000 tons. For lactose, the increase is from 9'400to 16'000 tons. Tariffs for each item are 9 and 20 percent withinthe MAQ. Beyond the MAQ, tariffs of 455 and 49.5 percent apply.
According to the ministry, the purpose of these revisions is to ensure that there is sufficient supply of raw materials for the specific industries including paper manufacture and feed industry.