Korea adjusts temporary Tariffs and Quotas

  • Date Added: 13th July 2011 from Ministry of Foreign Affairs & Trade

  • Korea has extended and expanded a number of temporary tariff rates and in-quota volume adjustments in a move aimed at stabilising prices through increased supply.

    Reduced-tariff or tariff-free quotas on 35 items, which had been due to expire on 30 June, have been extended until the end of 2011.

    The items affected include egg powder, processed milk and cream, cream cheese, gouda cheese, sunflower seed oil, rapeseed oil, grapeseed oil, olive oil, coffee beans, pork, mackerel, detergents, baby carriages and aluminium bars.

    Fourteen new items would be added to the reduced-tariff quota list. These include sows, some minerals, and sheepskins. In the case of sheepskins, the 5 per cent basic tariff will be reduced to 3 per cent from 1 July until 31 December 2011 on all imports.

    For further information

    Pippa Allen
    North Asia Division
    04 439 8893