ANNOUNCEMENT 29 May 2015

In May 2015, the government of Republic of Korea announced a change in import tariff quotas.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE



WTO Report on G-20 Trade Measures (mid-October 2014 to mid-May 2015):
https://www.wto.org/english/news_e/news15_e/trdev_15jun15_e.htm


Inception date: 01 Jan 2015 | Removal date: open ended
Still in force

Import tariff quota

On 29 May 2015, the Permanent Delegation of Korea to the WTO confirmed that the country had temporarily introduced tariff rate quotas of 1% for 20'000 tonnes of material for manufacturing agricultural chemicals.
In addition, the Republic of Korea also introduced a tariff rate quota of 10% for 253'000 tonnes of dried manioc chips (classified under HS code 071410). In addition, it introduced a tariff quota of 5% for 90'000 tonnes of cane or beat sugar (HS code 1701).
The tariff rate quotas were effective starting 1 January 2015 and their duration was left unspecified.
According to the WTO Tariff Download Facility, the average ad valorem duties (same values for years 2013-15) were 747% on goods classified under HS code 071410 and 13.8% for cane or beat sugar; whereas the average tariff was 6.5% for products classified as 3101.
Due to the unavailability of trade volumes for 2014, the list of affected trading partners is based on values from 2013.
 
 

AFFECTED SECTORS