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EU importers benefit from free trade with Korea

Korean products have for some time been subject to more and more import restrictions, in particular anti-dumping duties, and bilateral trade must therefore be conducted with caution in some places and entails its pitfalls. However, European importers can benefit from the Free Trade Agreement between the EU and Korea if its conditions are met.

Global restrictions on Korean products

Meanwhile, the Korean Association for International Trade (KITA) has reported 193 cases in 30 countries, 147 of which have already been subject to import restrictions. In the remaining cases, investigation proceedings are still ongoing (as of June 7, 2017). In most cases, the trade restrictions are anti-dumping duties.

Benefiting from free trade between the EU and Korea

The Free Trade Agreement between the EU and Korea of 1 July 2011 signalled that bilateral trade and economic growth in the EU and Korea should be promoted and strengthened. Almost all import duties between the two economies should be abolished. In order to enjoy the benefits of the agreement, its conditions must be met when importing. This includes in particular the presentation of certificates of origin certifying the preferential origin of the products.

Get advice on free trade in Korean goods.

For companies: 15 minutes free initial consultation+49 40 369615-0or send an e-mail

 

Attorney Dr. Tristan Wegner

Ihr Ansprechpartner

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