Announcement
20 Jul 2022
In July 2022, the Korean Government adopted a Presidential Decree allowing for temporarily reduced import tariff rates and temporary import tariff-rate quotas on imports of major foodstuff items as well as of crude oil in an effort to reduce inflation.
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Number of interventions
3
1 certainly harmful
0 likely harmful
2 liberalising
List of interventions
Implementation date
20 Jul 2022
Revocation date:
31 Dec 2022
Updated: 20 Jul 2022
Import tariff quota
On 20 July 2022, the Korean Government issued Presidential Decree No. 32818, reducing the duty-free tariff-rate quota for "crude oil used to manufacture jet fuel oil" (HS 2709.00) to a volume ...
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Implementation date
20 Jul 2022
Revocation date:
31 Dec 2022
Updated: 20 Jul 2022
Import tariff
On 20 July, the Korean Government issued Presidential Decree No. 32818, increasing the discounts applicable to imports of 2 products. The new discounts apply from 20 July until 31 December 2022.
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Updated: 20 Jul 2022
Import tariff quota
On 20 July 2022, the Korean Government issued Presidential Decree No. 32818, establishing new import tariff-rate quotas for several products. The new quotas apply from 20 July 2022.
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Related State Acts
30 Dec 2022
Republic of Korea: Goods subject to import quota tariffs and adjusted tariffs in 2023
10 Nov 2022
Republic of Korea: Introduction of temporary tariff concessions and import tariff-rate quotas (November 2022)
22 Jun 2022
Republic of Korea: Introduction of temporary tariff concessions and import tariff-rate quotas (June 2022)
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