ANNOUNCEMENT 24 Mar 2011In March 2011, the government of Republic of Korea announced an altered import quota.
NUMBER OF INTERVENTIONS
Press Release, '2011 ', 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=4009051
On 24 March 2011, Ministry of Strategy and Finance announced increased MAQs for 13 agricultural products from 288,000 to 801,000 tons. The measure will be in effect until 31 December 2011.
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.