WE MAKE THE DIFFERENCE FOR YOUR SUCCESSFUL BUSINESS
신한관세법인은 통관, 물류, 컨설팅까지 Total Service를 제공합니다.
Cover Story South Korea – United Kingdom Signed Continuity FTA
FTA with United Kingdom
On August 22, 2019,
Republic of Korea (Korea) signed a continuity Free Trade Agreement (FTA) with
United Kingdom (UK). In the event of no-deal Brexit on October 31, 2019, this
agreement will enter into force, allowing Korea and UK businesses to continue
to trade on the same preferential terms under current European Union (EU) -
Korea FTA such as following with some changes.
FTA News South Korea and Israel
Declare Conclusion of FTA
South
Korea and Israel Declare Conclusion of FTA
On
August 21, 2019, the conclusion of South Korea – Israel FTA was declared. The trade volume between two countries is
amounted to approximately $2.5 billion, an almost 15% increase over 2017.
Voices From the Fields Changes in KCS for Second Half of 2019
KCS
Announces Changes in Second Half of 2019
FTA and
Supports on Imports and Exports - More items are eligible for simplified issuance of FTA CO effective of
July 1, 2019. - KCS responding more quickly (within 15 days) with HS classification up to 6 digit effective of April 22, 2019.
Updated Customs Trading Regulation Enforcement Decree
Partial
Revision on Enforcement Decree of Customs Act Effective from September 24, 2019
Partial Revision on Customs Act is made
as follows. - Newly establishing system for simplified audit process on HS
classification (Article 106-6) - Reflecting changes in classification matters in related
customs record after court decision. (Article 107-2)
Customs Case Study To Tax or Not to Tax? Competition Horses for Re-Import Duty Exemption
Background
Competition horses were re-imported to Korea after attending
competition in Germany. Customs rejected request of importer that duty
exemption on this horse under re-import article 99-1. Reasons are as following,
to be eligible for duty exemption under re-import articles, 1) horse should
have not been used in Germany, 2) Or have been used only according to the contract
(for work), 3) horse should have been used in exhibition.
Inside Vietnam Vietnam Updates in October
Companies Eligible for Duty Exempt in Vietnam
Vietnam Customs announced No.
134 / 2016 / ND-CP to clarify which companies in Vietnam is eligible for duty
exempt or filing refund after export, when importing raw materials for export
later.
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
|