In September 2011, the government of Republic of Korea announced a change in import tariff quotas.



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Inception date: 22 Sep 2011 | Removal date: 22 Dec 2011

Import tariff quota

Effective from 22 Septermber 2011, the Republic of Korea introduced a tariff rate quota (TRQ) for dried chili and expanded the size of the TRQs for certain chickens and root crops through Presidential Decree No.23149. According to the Ministry of Strategy and Finance (MOSF), TRQ measure is to stabilize price/supply of specific products in domestic market.
The ministry said that 'Reflecting the current market supply and price, dried chili (HS 0904, 0904.20) was included into the TRQ list. Moreover, additional tariff cuts were introduced for chickens for breeding (HS 0105.11) and root crops for forage (HS 1214.90, 2308.00), while the size of the TRQ for root crops was expanded from 750.000 to 800,000 tons."
This measure is valid from 22 September to the end of 2011. For the exact HS codes, tariffs, quotas, and durations, we refer to Appendix 2 () of this document.
This measure was amended by the Presidential Decree No. 23391 (see related measure)