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.

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
Notice on the Partial Revision of Foreign Exchange Transactions 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

[SHINHAN Zoom In Trade JUN]

Please click to see more.

If you have any questions?

esyoon@shcs.kr

Please find details on our website in here.

http://customsservice.co.kr

http://blog.naver.com/shinhan22