South Korea's Customs Agency to Speed Up Import Clearance Ahead of Chuseok Holiday
Quick Look
- South Korea's customs agency announced it will accelerate import clearance and operate 24/7 support teams from Monday through Sept.
- 27 to ensure timely supply of goods before the Chuseok holiday, while also disclosing import prices for 89 food products and increasing inspections of country-of-origin labeling violations.
AI-generated summary
Why It Matters
Chuseok is a major Korean holiday marked by family reunions and ancestral rites, similar to Thanksgiving, and this year it runs from Sept. 24-27.
SEOUL, Sept. 4 (Yonhap) -- South Korea's customs agency said Friday it will speed up import clearance to facilitate the supply of goods ahead of the Chuseok holiday later this month, including by operating special support teams around the clock.
The Korea Customs Service (KCS) said the teams will operate daily from Monday through Sept. 27 to ensure imports are promptly released into the market.
The agency will additionally disclose the import prices of 89 agricultural, livestock and fishery products to enhance market transparency.
The agency will also step up inspections of country-of-origin labeling violations involving popular imported food products, it added.
Chuseok is the Korean equivalent of Thanksgiving and is marked by family reunions and ancestral rites. This year's Chuseok holiday runs from Sept. 24-27.
The KCS will also shorten the processing period for tariff refunds from the usual two days to the same day for exporters.
Open Questions
- What specific measures will the special support teams take to speed up clearance?
- How will the disclosure of import prices for 89 products be implemented and published?
- What penalties exist for country-of-origin labeling violations under Korean law?
