google-site-verification=-dZePfgWB2ZtA3dxPB_nPrOD55Shnmh0iXAEngMSTwE dZePfgWB2ZtA3dxPB_nPrOD55Shnmh0iXAEngMSTwE

BUSAN, South Korea -- South Korea's customs agency said today it will simplify the customs clearance process for low-priced consumption goods purchased on foreign websites. This is a move aimed at shortening delivery time and increasing benefits to consumers. 

Korea Customs to Ease Clearance Time on Low Cost Foreign Consumption Goods


BUSAN, South Korea — South Korea’s customs agency said today it will simplify the customs clearance process for low-priced consumption goods purchased on foreign websites. This is a move aimed at shortening delivery time and increasing benefits to consumers. 

The Korea Customs Service (KCS) said it will apply the clearance process called ‘de minimis’ to consumption goods bought from foreign websites starting in July. 

The rule will be applied to products priced at US$100 or lower. For goods bought from U.S. websites, the cap will be raised to $200, under the free trade pact between the two countries. 

De minimis refers to a clearance system in which specified items — usually low-priced goods — are exempted from documentation and taxation. Currently, six items including clothing and shoes benefit from the system. 

The move comes as a growing number of local consumers turn to the so-called overseas direct purchase. Direct purchase refers to purchasing goods for direct delivery to their domestic addresses from online shopping malls abroad. 

Source: Busan eFM News


 

Comments

comments

About

Check Also

Image: The Weather Channel

Typhoon Malakas May Affect Korean Peninsula Late this Weekend

The end of the Chuseok holiday may see some heavy rains and strong winds on the Korean peninsula according to projected track of Typhoon Malakas.

Leave a Reply