Global Trade Alert
Global Trade Alert

Republic of Korea: Introduction of temporary tariff concessions and import tariff-rate quotas to ease prices

Announcement

28 Apr 2023

In April 2023, the Korean Government adopted a Presidential Decree allowing for temporarily reduced import tariff rates and temporary import tariff-rate quotas on the imports of several goods for the period 1 May until 30 June 2023.

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Number of interventions

2

0 certainly harmful

0 likely harmful

2 liberalising

List of interventions

Implementation date

01 May 2023

Revocation date:

30 Jun 2023

Updated: 28 Apr 2023
Import tariff

On 28 April 2023, the Korean Government issued Presidential Decree No. 33437, reducing the tariff rate for the period 1 May 2023 until 30 June 2023 for the following product:

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Updated: 28 Apr 2023
Import tariff quota

On 28 April 2023, the Korean Government issued Presidential Decree No. 33437, establishing new import tariff-rate quotas for several products. The new quotas apply from 1 May 2023.

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