How should I declare the price on the commercial invoice when importing used personal items into Korea? Released

The Korea Customs Service's guidance on determining the customs value of used goods is as follows.

Since used goods are considered duty-free imported goods and are not goods sold for export to Korea, their customs value cannot be determined under Article 30 of the Customs Act. Therefore, the customs value must be determined sequentially according to Articles 31 to 35 of the Customs Act. If the customs value cannot be determined under Articles 31 to 34 of the Customs Act due to the absence of import records or domestic selling prices for identical or similar goods, Article 35 of the Customs Act and Article 7-5 of the Enforcement Rule of the Customs Act must be applied.

* Enforcement Rule of the Customs Act, Article 7-5

1. Appraisal value by an appraisal institution according to relevant laws and regulations

2. Price calculated by applying the reverse calculation rate of market value to the domestic wholesale price

3. Price obtained by deducting the value depreciation from the customs value of new or used goods traded domestically at the time of import

4. Other reasonable prices recognized as appropriate by the head of the customs office

Since the method referred to as Method 1 cannot be recognized as is, the customs value must be determined by Method 2 through Method 6, and if there is no domestic selling price, one of the calculation methods listed in the aforementioned Enforcement Rule should be applied.

Therefore, when importing used goods, even if they are duty-free, the invoice price cannot be marked as 0 KRW. Even if a specific price is indicated, it is necessary to determine whether that price has been appropriately set based on a method derived from Method 2 through Method 6.

Furthermore, it is important to establish the basis for determining that declared price.

In particular, you should check if there are import prices for identical or similar goods sold in the market. If there are none, you should use the calculation method specified in the Enforcement Rule, and if you prepare a solid basis for your calculations, it will serve as a sufficient explanation during future import case reviews.