ANNOUNCEMENT 01 Jan 2013

In January 2013, the government of Republic of Korea announced a change in import tariff quotas.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



Presidential Decree No. 24288, ' 71 ', http://www.law.go.kr/LSW/lsInfoP.do?lsiSeq=131375#0000


Inception date: 01 Jan 2013 | Removal date: 01 Jan 2014
Still in force

Import tariff quota

Effective from 1 January 2013, the Republic of Korea introduced tariff-rate quotas (TRQ) for various products through Presidential Decree No.24288. 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, 4 new products were added to the list for this year, while 21 out of 94 items from the previous TRQ list were removed. Therefore, a total of 77 items are affected by the new TRQ list in 2013."
 
This measure is valid from 1 January to the end of 2013, while some products were only valid until 31 March or 30 June 2013. For the exact HS codes, tariffs, quotas, and durations, we refer to Appendix 1-5 () of this document.
 
This measure was amended by the Presidential Decree No. 24639 (see related measure)