Global Trade Alert
Global Trade Alert

Republic of Korea: Introduction of temporary tariff concessions and import tariff-rate quotas (May 2024)

Announcement

09 May 2024

In May 2024, the Korean Government adopted a Presidential Decree establishing new import tariff-rate quotas and introducing temporary import tariff concessions for several products.

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Number of interventions

2

0 certainly harmful

0 likely harmful

2 liberalising

List of interventions

Implementation date

10 May 2024

Revocation date:

31 Dec 2024

Updated: 09 May 2024
Import tariff

On 9 May 2024, the Korean Government issued Presidential Decree No. 34501, introducing temporary tariff concessions for several goods. The changes enter into force on 10 May 2024.

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Implementation date

10 May 2024

Revocation date:

30 Sep 2024

Updated: 09 May 2024
Import tariff quota

On 9 May 2024, the Korean Government issued Presidential Decree No. 34501, establishing new temporary import tariff-rate quotas for several goods. The new quotas enter into force on 10 Ma...

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