Cover Story   ​

Japan’s Export Restriction

on South Korea

How It Started : “Catch All” Control System

Catch-all control system regulates export product that could potentially be used to develop or manufacture weapon. From last July 4, Japan tightened export controls to South Korea on three kinds of semiconductor materials citing this “Catch-All” control system in Korea is not controlling target exports effectively. However, Korea’s system regulates more items including conventional weaponry than system in Japan by reporting end user’s information and their purpose of purchasing to Korean government. Meanwhile, Japanese companies are not obliged to report export related information to related agencies when exporting conventional weaponry.

FTA News

Updated FTA News as of July 2019

More Items Added for Simplified Issuance Process of Certificate of Origin

From this July 1st, Korean Customs Service (KCS) is allowing 82 more items to issue FTA Certificate of Origin in simplified process along with existing 161 items. Newly added items are machinery, food preparations including automotive batteries, boilers, noodles, Kimchi to promote export utilizing FTA benefits.

Voices From the Fields

KCS Utilizing Big Data to Help Taxpayer to Avoid Filing Errors

Avoid Filing Error with KCS’s Big Data Information

KCS is assisting taxpayers to reduce filing errors in clearance with services utilizing clearance data accumulated in the KCS system. This data contains wide range of clearance data including duty information and foreign exchange, which KCS can diagnosis whether taxpayer is reporting tax in the most appropriate way.

Updated Customs Trading Regulation
Notice on the Revision of Guideline for National Plant Quarantine Service

Revision of Improved Guidelines and Articles Effective as of July 1, 2019

Guideline for National Plant Quarantine Service is newly inserted as related articles are revised as of July 1, 2019. Revision allows Ministry of Agriculture, Food and Rural Affairs can request necessary information to related government agencies in case of finding regulated pests injurious to plants. It also allows to impose administrative fine not exceeding five million won, when importer and any related party including customs broker and carrier did not report the find of injurious pest from the importing product.

Customs Case Study

Cases on Principle of Good Faith and Prohibition of Retroactive Taxation

Background

Company A has been importing EMI Shielding film product under WTO duty rate of 6.5%, which Customs have investigated the product might be eligible for paying AD duty. After investigation, the product found not to be eligible for paying AD duty, however its corresponding duty was found to be general duty of 8%. Customs claimed previously imported cases should be accounted with 8% of general duty as well as imposing additional tax. Company A disagreed with custom’s decision and filed appeal that it is against the Principle of Good Faith and Prohibition of Retroactive Taxation as previously filed clearance import cases were classified at their best knowledge in good faith.

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 AUG]

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