ANNOUNCEMENT 02 Apr 2010In April 2010, the government of Republic of Korea announced an altered import quota.
NUMBER OF INTERVENTIONS
Press Release, '2010 ', Ministry of Strategy and Finance, http://www.mosf.go.kr/news/news02.jsp?boardType=general&hdnBulletRunno=62&sub_category=128&hdnFlag=1&hdnDiv=183&&actionType=view&runno=4006354
On 2 April 2010, the Ministry of Strategy and Finance announced that it will increase the market access quotas (MAQs) for 12 agricultural products including swine, chicken, green bean, red bean, and corn by a total of 4.4 million tons. The measure will be effective from 5 April to the end of 2010.
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() of this document.