ANNOUNCEMENT 29 May 2015In May 2015, the government of Republic of Korea announced a change in import tariff quotas.
NUMBER OF INTERVENTIONS
WTO Report on G-20 Trade Measures (mid-October 2014 to mid-May 2015):
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.