Handbook on the Preferential Tariff Scheme of the Republic of Korea in Favour of Least Developed Countries

The preferential tariff scheme of the Republic of Korea has been developed in accordance with the World Trade Organization (WTO) decisions to contribute to the economic development and trade expansion of the least developed countries (LDCs). In Decem... Read more

The preferential tariff scheme of the Republic of Korea has been developed in accordance with the World Trade Organization (WTO) decisions to contribute to the economic development and trade expansion of the least developed countries (LDCs). In December 2005, the sixth WTO ministerial conference in Hong Kong (China) adopted to implement duty-free and quota-free (DFQF) market access for products originating from LDCs and agreed to provide effective market access, both at the border and otherwise, including simplified and transparent rules of origin so as to facilitate exports from LDCs. In response to the WTO decision, the Republic of Korea announced in November 2007 that it would expand the DFQF access for LDC exports to reach 95 per cent of the country’s total tariff lines. The Handbook provides a general explanation of the preferential tariff scheme of Korea to assist government officials and exporters involved in trade under the preferential scheme to gain a better understanding of the scheme and fully utilize preferential trade opportunities. Less