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Cover Story Issues from WTO
Appeal Panel’s Decision on South Korean Banning Fukushima Seafood
Detailed Point at Issue
More over to the Cover Story from last month, WTO upholding South
Korean ban on Fukushima Seafood, the following issues were raised in the WTO’s
appeal case and nullified lower panel’s decision.
FTA News New
Southern Policy and Changes in FTA
New
Southern Policy
Korea’s
export market is experiencing challenges with global trends of protection trade
due to major trade conflict and changes such as Brexit and U.S. - China Trade
Dispute. To encourage and promote export market, Korean government is planning
for New Southern Policy to cooperate with India and ASEAN countries.
Voice
From The Fields Arrivals Duty Free Shop Opens
Arrivals
Duty Free Shop
On May 31st, 2019 the first arrival duty free shop in Korea
opened in Incheon International Airport. More arrival shops will be opening in
other airports after six months of testing period. Sales items include cosmetics, perfume, alcoholic beverages,
packaged foods, leather and fashion products, sporting foods, toys,
electronics, music album and souvenirs. Tobacco, fruits, animal processed
products are excluded.
Updated Customs Trading Regulation
Reason for the Revision
- Partial revision on Foreign Exchange Transaction is made to
encourage and promote new
business in Foreign Exchange, enhance financial competitiveness, improve convenience
of foreign exchange, and renovate regulations. - For the part of the revision, government official will
demonstrate the necessary of “Regulatory
Verification Responsibility Conversion System.”
Customs
Case Study Classification
of Mast Section
Background
- Whether Mast Section should be classified
under HS Code 7308 or 8431. - HS Code 7308 is Structures and Parts of
Structures with WTO (C) duty rate 0%. - HS Code 8431 is Parts suitable for use solely or principally with the machinery of headings 8425 to 8430 with General duty rate (A) 8%.
SHINHAN
News KCS(Korea Customs Service) hosting, “YES FTA 2019” with SHINHAN Customs Service
We are inviting export companies planning to utilize FTA to the
following educational seminar free of
charge provided by Korean Customs Service.
■ Location/Time
: Flexible upon request of applicants ■ Registration - Fee is free of charge, materials are included.
Lunch is provided for 6 hours course. - YES FTA Website (http://www.yesftaedu.or.kr) - Registration via phone or e-mail is
available ■ Other
Questions? - SHINHAN Customs Service : 82-2-3448-1181,
fta@shcs.kr - YES FTA Q&A Center : 82-1544-5702,
yesftaedu@origin.or.kr
If you have any questions? esyoon@shcs.kr
Please find details on our website in here. http://blog.naver.com/shinhan22
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