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Import Process and regulation in Korea

1. Import Process

II. Import Process and Required document

Mr. J.H. Yeo resears a copyright on the following documents

1. Who can submit a declararation form

(1)  Customs attorney:  It can be a corporate or indivisual attorney
(2)  Importer:  It will include the following
A principal of import trust agreement
Consignee on the Bill of lading and/or airway bill
Assignee of the goods if assignment was made before import
Chief of government agency if imported for government use
In case of bankrupcy of xonsignee, a bank acquired the goods can be importer
Bid winnder if acquired by auction in the court

(3)  A corporate or indivisual wish to use EDI, one should acquire a prior written approval from the customs office.

(4)  Import report should be used right application form. Please note that most of the form is submitted in electronic way.


2.  What kind of documents are required

(1) Invoice:  A contract is required if one use estimated price (Elecronic image can be used) 

(2) Price Report (In certain product)

(3) Bill of Lading or Airway bill (Copy can be used)

(4) Packing List:   Item and amount should be marked for each and every package. It can be exempt otherwise addmitted by the customs office, Not required if submitted in some cases using electronic methods

(5) Certificate of Origin (It can be required in some cases)

(6) Other Documents regarding inspection, quarantine, permit and recommendation

It is requred by 34 different Korea Acts and regulations regarding environment, social safety, health care

(7) Tax deduction document (if necessary)

(8) Tax rate designation application (if necessary)

(9) Local government tax payment guarantee letter

(10) Kimberly process certificate (it is required only for diamond)

(11) Special quota  adoptation certification document (if there is any import quota)

(12) Specially allowded customs rate certificate docuemtns (If there is a special allowance)

(13) Special customs rate certificate for species preserving (it can be verified online)


3.  When one can submit  documents?

(1)  Before departure of goods

5 days from departure in ocean freight : from Japan, China, Taiwan and Honkong
1 day from departure : all air freight

(2)   Before arrival of goods

(3)   Before arriving in duty free area

(4)   After  arrivng in duty free area


 

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