1 The EU-Korea Free Trade Agreement in practice – see page 3 2 South Korea: Trade Image, European Commission, December 2019 We understand that the FREE trade agreement BETWEEN the EU and South Korea will come into force on 1 July 2011. We sell plastics in South Korea, and we have been informed that under this new agreement, South Korea`s 9% tariff will be lowered – or perhaps even zero. NOTE: The trade agreement applies to customs duties, not taxes. All VAT on imports into the EU or South Korea has yet to be paid. Important note: it is important that the declaration is properly completed or can be rejected by customs. Please consider the official text of the original declaration in Schedule III of the official agreement. The text contains explanatory notes and is available in all applicable languages. Make evacuation easier with our free tools. With FedEx Electronic Trade Documents, reduce the risk of customs delays by submitting your file electronically. The FREE Trade Agreement BETWEEN the EU and South Korea (EEA) removes almost 99% of all import tariffs on products originating in the EU or South Korea1, making exports easier and cheaper. It has been in effect since 2011 and needs only a simple declaration to add to the commercial invoice.
EU exports to South Korea increased by 77% between 2010 and 2018, with European companies benefiting from duty-free access to south Korea`s lucrative market2. . The customs authorization number. Is your authorized exporter number. It is required for all issues worth more than 6000 euros. . Modern customs processes allow for quick and easy unlocking of your goods. To benefit from reduced or 0% tariffs, products must be of „European origin.“ All it takes is one explanation. No formal certificate is required. Simply add this to your business invoice (or any other business document) as well as a detailed description of your products, as you would normally: . Find out how to take advantage of the FREE trade agreement BETWEEN the EU and South Korea.
. We can confirm that we manufacture the goods in Britain, but how can we ensure that our customers in South Korea can benefit from this tariff reduction? Will it be available in South Africa and Switzerland under a EUR1 form such as our issues? Our express parcel service allows you to import from South Korea in just 1 to 2 days and export to South Korea in 2 days. It is now easier for companies in the EU and South Korea to cooperate. Availability and transit time may vary depending on the type of shipment, origin and destination. FedEx`s terms and conditions apply. The exporter of the products covered by this document (customs authorization No.______) states that, unless otherwise stated, these products fall under the EU`s preferential origin. Always be sure to check the rules and regulations of the country from which you are shipping, and up to shipping. More information is available on the European Commission`s website. . Tariffs on almost all products are removed and non-tariff barriers are removed. Did you know that you can save money on your international broadcasts to and from South Korea?.
