Bulk Submission System for Customs Valuation Data: Key Implementation Schedule and Deadlines Released

1. 2025 Implementation Schedule (Introductory Phase)

The year 2025 marks the initial phase of the Bulk Submission System for Customs Valuation Data. Importers should take note of the following milestones:

• July 1, 2025: Enforcement of the amended 'Public Notice on Customs Valuation Operations.'
• Mid-July 2025: Official notifications will be mailed to companies designated for mandatory valuation data submission.
• September 1, 2025 (Core Implementation Date): The obligation to submit valuation data begins for all goods imported from this date onward.
• Initial Reporting Protocol: Until November 30, the 'Initial Import Declaration Number' must be recorded in the 'Declarant’s Remarks' field of the import declaration.
• Precaution: Even if data is submitted after September 1, 2025, a renewal submission is required after January 1, 2026, to cover the new calendar year.
• December 1, 2025: Implementation of the revised Value Declaration Form and system upgrades.
• Form Update: The initial import declaration number must now be entered in the newly established Field 7: 'Initial Import Declaration Number with Attached Valuation Data.'
• System Simplification: The 'Statement of Reasons for Non-Submission' can be drafted and submitted easily through the electronic customs portal.

2. Annual Cycle and Recurring Deadlines

The system operates on a recurring annual cycle based on the calendar year. Compliance requirements are as follows:

• January 1 – December 31: The validity period for submitted data follows the calendar year, not the corporate fiscal year.
• Annual Renewal Requirement: Importers must re-submit data after January 1 of each year, even if the terms and conditions of the transaction remain unchanged from the previous year.
• January 1 – January 31 (Assessment Period): Since the previous year's full tax payment performance may not yet be finalized, the determination of submission eligibility is based on tax payment records from two years prior.
• January 15: Official tax payment records for the previous year become available for verification via UNI-PASS (Korea Customs e-Clearance System).

3. Deadlines for Specific Cases and Special Circumstances

Strict deadlines apply for delayed submissions or direct requests from customs authorities:

• Submission with 'Reason for Delay': If a statement of reason for delay is filed, the actual valuation data must be submitted no later than 30 days from the date the import declaration was accepted.
• Requests by the Head of Customs: In cases where the head of a customs office requests data, submission is generally required within 30 days.
• Extensions: If unavoidable circumstances exist, a single extension of up to 30 days may be granted upon request.