ANNOUNCEMENT 15 Nov 2010In November 2010, the government of Republic of Korea announced a change in import tariff quotas.
NUMBER OF INTERVENTIONS
Presidential Decree No. 22482, ' 71 ', http://www.law.go.kr/lsInfoP.do?lsiSeq=108782&viewCls=lsRvsDocInfoR#0000
Effective from 15 November 2010, the Republic of Korea introduced a new tariff rate quota (TRQ) for frozen mackerel through Presidential Decree No.22482. 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 supply/price of frozen mackerel in the domestic market, import tariffs on frozen mackerel (HS 0303; 0303.7; 0303.74) were reduced from 10% to 0% for up to 10,000 tons."
This measure is valid from 15 November to the end of 2010. This measure was amended by the Presidential Decree No. 22552 (see related measure).