ANNOUNCEMENT 28 Sep 2012In September 2012, the government of Republic of Korea announced a change in import tariff quotas.
NUMBER OF INTERVENTIONS
Presidential Decree No. 24121, ' 71 ',
Effective from 28 September 2012, the Republic of Korea updated tariff-rate quotas (TRQ) for casava and root crops for forage through Presidential Decree No.24121. 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 market supply and price, the measure increased size of the TRQ for casava (HS 1108.14) from 15,000 to 29,000 tons and for root crops for forage (HS 1214.90; 2308.00) from 600,000 to 800,000 tons."
This measure is valid from 28 September to the end of 2012. This measure was amended by the Presidential Decree No. 24288 (see related measure)