For foreigners who are pursuing trade business with Korea, we link to the most viewed articles registered in the TradeNPU Knowledge Basket.
As it is a popular search term and content, many people are curious about it, so we hope that the related content will be helpful in finding answers to the problems you are experiencing.
Could you please let me know if there's a way to avoid declaring a bag worth USD 2500 when entering Korea? I will be staying in Korea for only one week before departing.
In this case, the questioner can use the traveler's belongings deposit system.
Items brought in by a traveler that they do not intend to import can be deposited in accordance with Article 206 of the Customs Act, and a deposit receipt for personal belongings will be issued to the traveler.
However, the following items can be deposited only if deemed appropriate by the customs officer:
- Items belonging to a designated high-risk traveler.
- Items recognized as commercial goods intended for domestic import.
- Items brought in by domestic residents.
- Hazardous items and quarantine-targeted agricultural, forestry, livestock, and fishery products that are at risk of damage or deterioration.
The storage period for items held by travelers is one month, and the storage period for deposited items is calculated by adding one month to the scheduled departure date stated on the deposit receipt.
For more details, please refer to below link.
https://www.tradenpu.com/CS/ticket_details/pk_id=554
Could you please let me know if there's a way to avoid declaring a bag worth USD 2500 when entering Korea? I will be staying in
In this case, the questioner can use the traveler's belongings deposit syst...
www.tradenpu.com
What qualifications and visa requirements must a foreigner meet to open a business establishment or run a business as a co-representative in Korea? I am considering starting a business as a sole proprietor.
The visas that allow foreigners to register a business in Korea are as follows:
- D8 (Corporate Investment) visa
- D9 (Trade Management) visa
- F2 (Residency) visa
- F4 (Overseas Korean) visa
- F5 (Permanent Resident) visa
- F6 (Marriage) visa
Additionally, the national spouse visa (F-6-1) is issued to foreigners married to Koreans. With this visa, you can engage in general business activities and register as a sole proprietor in Korea.
You can find more details through below link.
https://www.tradenpu.com/CS/ticket_details/pk_id=561
What qualifications and visa requirements must a foreigner meet to open a business establishment or run a business as a co-repre
The visas that allow foreigners to register a business in Korea are asfollo...
www.tradenpu.com
What are the common import duties and taxes in Korea?
South Korea is a country with limited natural resources. However, it has an economic structure that achieves a trade surplus by importing various raw materials, manufacturing high-value-added products using advanced technology and excellent human resources, and exporting high-quality products.
Therefore, South Korea is highly proactive in establishing Free Trade Agreements (FTAs). FTAs reduce the cost burden on manufacturing companies when importing raw materials, while enhancing price competitiveness for exports, thereby invigorating South Korea's trade-centric economic structure.
As a result, South Korea's tariff rates for many types of products have reached 0% for most countries. Even when FTA benefits cannot be applied, the WTO agreement tariff rate of 6.5% is still lower than the basic rate of 8%. In some cases, the basic rate can even be 0%.
If you are planning to trade with South Korea and are concerned about tariffs and taxes, ensure that you prepare the necessary certificates of origin for FTA benefits or verify the applicability of WTO agreement tariff rates.
You can find more details through below link.
https://www.tradenpu.com/CS/ticket_details/pk_id=585
What are the common import duties and taxes in Korea?
South Korea is a country with limited natural resources. However, it has an...
www.tradenpu.com
What are the most common issues faced during customs clearance?
What is the most common customs issue when importing goods into Korea?
One of the most frequent issues is related to 'Country of Origin' labels.
Most imported goods must have a country of origin label before import declaration, as required by various trade laws.
Despite improvements, some manufacturers, especially from China, do not include these labels during production.
This issue also occurs with some Southeast Asian countries.
How should the Country of Origin label be applied?
The label must be applied in a way that cannot be easily removed from the product.
If you plan to export goods to Korea, ensure the country of origin label is properly applied during manufacturing.
If you need more details, please refer to below link.
https://www.tradenpu.com/CS/ticket_details/pk_id=592
What are the most common issues faced during customs clearance?
**What is the most common customs issue when importing goods into Korea?**O...
www.tradenpu.com
In addition to the above, various English articles related to Korea's customs system can be viewed through the knowledge basket, so please visit and use them.
Certified Customs Broker JangJu Goh
Executive Customs Broker @ NPU Customs Consulting
CEO @ JG TradePlus
sales@npucus.com
Trade Compliance / Customs clearance management at foreign company
Working experience of Air export freight forwarding
Data Visualization / Independent development of business automation application – copyright of JGPO_Manager, JG Data Center, AutoCC and etc.
B2B consignment & direct export/import, B2C Overseas Buying Office consulting
Alibaba.com B2B trade / taobao B2C trade / Amazon.com global selling etc. Online trade regulation consulting.
Import license / Quarantine
English communication available
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E-mail) sales@npucus.com
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