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Import/Export in South Korea

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Import/Export in South Korea

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South Korea Importing & Exporting

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  • South Korea Exports:

    UK exports to South Korea have risen 21 per cent since 2003. The UK has a 1.2 per cent share of the South Korean market for goods and services. This compares with 0.6 per cent for France and 0.8 per cent for Italy.

    South Korea Imports:

    The balance of trade continues to be in South Korea’s favour. Since 2003, goods imported into the UK from South Korea have decreased from £2.5 billion to £2.4 billion (2010). They peaked, in 2008, at £3.5 billion.

    Export documentation

    If you are exporting to South Korea, you will need the following documents to clear Korean Customs: commercial invoice, certificate of origin, packing lists, bill of landing and maritime insurance.

    As an exporter of goods you need to develop an understanding of various issues, such as:

    • The legal and regulatory requirements
    • Your consignments have to comply with the paperwork involved
    • The right mode of transport, i.e. road, air rail and sea packaging and labelling
    • How freight forwarders can help you
    • Rules for dangerous goods

    Labeling and packaging regulations

    Country-of-origin labeling is required for commercial shipments entering South Korea.

    Further labeling and marking requirements for specific products, such as pharmaceuticals and food, are covered by specific regulations from the South Korean government agencies responsible for these items.

    Korean-language labels, except for country-of-origin markings that must be shown at the time of customs clearance, can be attached locally on products in the bonded area, either before or after clearance.

    The Korea Food & Drug Administration (http://eng.kfda.go.kr) is responsible for setting and enforcing Korean labels for food products, other than livestock products. These are regulated by the Ministry of Food, Agriculture Forestry and Fisheries (http://english.mifaff.go.kr) which also has its own set of standards for markings for the country-of-origin labeling of agricultural products.

    The Korean Customs Service(http://english.customs.go.kr) publishes a list of the country-of-origin labeling requirements by Harmonized System Code number. Local importers usually print Korean-language labels when imported quantities are not large, and can consult with the Korean Customs Service as to where they can be attached to the product. The Certificate of Origin should indicate the item’s description, quantity, price, place of origin, exporter and importer, and be written in English, Korean or French. For items shipped directly to South Korea from their country of origin, the Certificate of Origin should be issued by the relevant customs authorities or Chamber of Commerce. The items themselves should be clearly marked with their country of origin.

    UKTI

Click here to Ask an Expert about Import/Export in South Korea

Organisations that can assist with Import/Export

  • > Parcel Hero

    ParcelHero gives you the fastest transit times from the world’s best carriers and, what’s more, we make life easier by selecting the best carrier for each shipment so all you have to do is select the service and transit time to suit your budget.

    More Details Visit Website
  • > Nominus.com

    When expanding your business to South Korea, don’t forget to protect your brand. We provide Trademark Registration Services in South Korea and in all Asian countries

    More Details Visit Website
  • > Worldwide Parcel Services

    Worldwide Parcel Services offer a highly discounted, competitve, door to door parcel service importing and exporting around the world.

    More Details Visit Website
  • > Parcelcompare

    Parcelcompare offers global parcel delivery services to consumers and businesses through the world’s most reputable carriers UPS, DHL, TNT & FedEx. We have been in business for over 28 years and established a reputation of excellence within our industry.

    More Details Visit Website
  • > Export Advice Services

    Looking to start exporting to this country? Need export advice? We can advise on: Pricing structures,Import/ export duty,Shipping, customs and documentation, Routes to market – finding the right agent or distributor, Partner management.

    More Details Visit Website

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