Trade Compliance in South Korea

Overview by
International Conventions
Member of World Trade Organisation
Member of OECD
Party to the Kyoto Protocol
Party to the Washington Convention on International Trade in Endangered Species of Wild Fauna and Flora
Party to the Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and Their Disposal
Party to the Montreal Protocol on Substances That Deplete the Ozone Layer
Party to the Wassenaar Arrangement on Export Controls For Conventional Arms and Dual-Use Goods and Technologies
Main International Economic Cooperation
Korea signed in 2010 'The Korea- US Free Trade Agreement (FTA).
Korea is a member of Asia-Pacific Economic Cooperation (APEC) and ASEM (Asia-Europe Meeting). It is a signatory to multilateral and bilateral agreements with many countries. Korea signed in October, 2009 a Free Trade Agreement with the EU. The country have signed a trade agreement with 21 other countries in the São Paulo Round of the Global System of Trade Preferences among Developing Countries (GSTP).
Party of the ATA Convention on Temporary Admissions and Use of the Carnets

As a Reminder, the ATA is a System Allowing the Free Movement of Goods Across Frontiers and Their Temporary Admission Into a Customs Territory With Relief From Duties and Taxes. The Goods Are Covered By a Single Document Known as the ATA Carnet That is Secured By an International Guarantee System.
Look Up the Other Member Countries And Read the Web Pages of the World Customs Organization Devoted to the ATA Carnet.
Party of the TIR Convention

As a Reminder, the TIR Convention and its Transit Regime Contribute to the Facilitation of International Transport, Especially International Road Transport, Not Only in Europe and the Middle East, But Also in Other Parts of the World, Such as Africa and Latin America.
The UNCTAD Website Allows You to Read the TIR Convention, See the List of Member Countries And to Find Further Information.
Accompanying Documents For Imports
- Import license,
- Invoice,
- Price declaration,
- Bill of Lading,
- Proofs that requirements have been satisfied under Article 226 of the Customs Act,
- Packing List,
- Certificate of Origin,
- Application for Duty exemption/abatement, preferential tariff rate, etc.
Free Zones
For Further Information
Korean Customs Office
Ministry of Foreign Affairs and Trade
Non Tariff Barriers
Approval or authorization of certain items that can be imported by obtaining certification, permission and type approval. Those requirements are maintained mostly for the protection of public morals, human health, hygiene and sanitation, animal and plant life, environmental conservation or essential security interests in compliance with domestic legislation requirements or international commitments.

Quantitative import restrictions on Rice, Petroleum, LPG (Liquefied Petroleum Gas), agricultural fertilizers, crop seeds, animals and animal products, nuclear materials, narcotics, foods and food additives, foreign publications, firearms and explosives.
More information on Korean customs service.

Sectors or Products For Which Commercial Disagreements Have Been Registered With the WTO
TV, Semiconductor, Steel, Commercial Vessls, Large Air Craft, Automobile, Paper Alcohol, Beef, Shrimp, Rice, Salmon, etc.

The WTO gives details of these disagreements on the page of information concerning the country.

Assessment of Commercial Policy
Trade policy of Korea, by the WTO
Barriers to exchanges, inventoried by the United States
Barriers to exchanges, inventoried by the EU
Sanitary and phytosanitary barriers, inventoried by the EU
Find more on about Trade Policy in South Korea.

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