Trade Law and Regulation in Korea

Trade Law and Regulation in Korea

Elgar Korean Law series

Edited by Seung Wha Chang and Won-Mog Choi

In the face of rapid development of the Korean economy, Korean trade laws and regulations have changed in many different ways over the last few decades. This comprehensive book introduces the laws and regulations affecting trade with Korea.

Chapter 1: Border Measures: Customs and Import-related Measures

Deok-Young Park

Subjects: asian studies, asian economics, asian law, economics and finance, asian economics, international economics, law - academic, asian law, international economic law, trade law


Deok-Young Park INTRODUCTION 1. As a Member of the World Trade Organization (WTO), Korea has tried to and is fully committed to facilitating trade, safeguarding public security and promoting a fair trade environment. Among Korea’s relevant trade measures, the customs issue is thought to be one of the core trade-related measures because it directly affects the “trade,” which means the activity of buying and selling or of exchanging goods or services between countries.1 If measures taken by one country’s customs office are discriminative or unjustifiable, the trading systems will suffer and trade-related disputes may arise. Against this backdrop, it is meaningful to review one’s customs clearance rules or other trade-related legislations or regulations. This chapter introduces the operation and application of the Customs Act of Korea (KCA) and other trade-related rules.2 In addition, this chapter introduces the customs-regulating governmental body, the Korea Customs Service (KCS). 2. INTRODUCTION TO THE CUSTOMS ACT AND RELATING DECREES OF KOREA Korea has one customs act and its regulations, as well as another special act to apply customs rules in the case of the WTO or Free Trade Agreement (FTA). The Decree of Customs Act provides specific matters on the implementation of trade-relating measures not stipulated in, but delegated by 1 2 Oxford Advanced Dictionary. The English version of these acts is found in this website: http://elaw.klri. 1 M2509 - CHANG PRINT.indd 1 27/01/2011 10:19 2 Trade law and regulation in Korea the Customs Act.3 Another special law provides the implementation of...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information