Knowledge Basket
26/03/19 02:11
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To understand the logistics flow of imported cargo, it is essential to first distinguish between the concepts of 'Foreign Goods' and 'Domestic Goods' under the Customs Act. While both …
26/03/18 21:29
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Under the Foreign Exchange Transactions Act, transactions are broadly categorized into current transactions (such as trade) and capital transactions. A capital transaction refers to a transaction between a resident …
26/03/18 06:23
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The Korea Customs Service recently announced a significant simplification of the procedures for issuing Free Trade Agreement (FTA) Certificates of Origin. This measure is designed to proactively support the global …
26/03/18 02:29
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Yes, that is correct. The Korea Customs Service (KCS) strictly prohibits the export of used smartphones that have been recorded as lost or stolen.This regulation is implemented to prevent …
26/03/17 21:28
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Customs clearance for non-commercial personal household goods (personal effects) during overseas relocation is distinct from commercial cargo procedures, primarily offering tax exemptions and simplified formalities. Commercial goods are imported or …
26/03/17 06:17
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1. Standard Import Notification ProceduresPursuant to the Medical Devices Act, all importers must submit and complete a Standard Electronic Document for Import Notification through the Chairman of the …
26/03/17 02:22
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Regarding your inquiry about the Korea-Vietnam Free Trade Agreement (FTA), you asked whether preferential tariff rates can be applied when the HS Code on the Certificate of Origin (HS 2008.99-9000) …
26/03/16 21:22
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Principles of Customs Valuation and the Definition of 'Price Actually Paid or Payable'Under Article 30 of the Customs Act, the customs value of imported goods is, in principle, …
26/03/16 06:21
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Regarding your inquiry about the Rules of Origin (RoO) for HS codes 3901 through 3915 under the KORUS FTA, we provide a detailed explanation of the specific proviso requiring …
26/03/16 02:22
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HS Code Classification for Stainless Steel Tumblers
Based on the provided specifications, a double-walled vacuum-insulated stainless steel tumbler designed to hold water or beverages is classified under HS Code …