Knowledge Basket
26/03/23 06:10
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To support corporate liquidity and strengthen export competitiveness, the South Korean duty drawback system for export raw materials operates on the principle of 'Refund First, Audit Later.' Instead of conducting …
26/03/23 02:22
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When foreign-made products are brought into Korea for promotion or display at domestic exhibitions or events and are subsequently re-exported within a specified period, duties may be exempted under Article …
26/03/22 21:10
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To effectively manage import logistics, it is essential to first distinguish between 'Foreign Goods' and 'Domestic Goods' as defined by the Customs Act. While both general bonded transportation and direct …
26/03/22 06:22
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Overview of the Duty Drawback System and Paperless (P/L) FilingDuty drawback on export goods is a system designed to alleviate the financial burden on exporters and support international trade …
26/03/22 02:28
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Even if you missed the opportunity to apply for FTA preferential tariff treatment during the import clearance process, you can still recover the duty difference through legally established procedures. This …
26/03/21 21:18
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Applying for a duty drawback for the first time requires careful preparation of documents and familiarity with the electronic customs system. Below is a detailed guide on how to submit …
26/03/21 06:20
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Yes, as you noted, Closed-Circuit Television (CCTV) cameras and webcams that transmit real-time video images without internal storage devices or viewfinders are classified as Television Cameras under HS Code 8525.89-2000 …
26/03/21 02:23
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When purchasing goods from overseas, one of the most confusing aspects is the difference between 'List Clearance' and 'General Import Declaration.' These are the two primary methods used when goods …
26/03/20 21:18
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Yes, that is correct. The Korea Customs Service (KCS) strictly prohibits the export of used smartphones that have been reported as lost or stolen. This measure is designed to prevent …
26/03/19 06:27
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Duty drawback for exported goods is a system designed to support exporters and alleviate their financial burden in accordance with the Act on Special Cases Concerning the Refund of Customs …