Korea's Trade Facilitation System

초록

Trade facilitation includes not only standardization and simplification of international trade procedures of information and communication, practice and document forms, but also international harmonization of customs transaction, customs appraisal, classification system, transport, finance and insurance, practices of businesses and enterprises. It means that trade facilitation emphasizes simplification and harmonizing different systems related with international flows of goods, by abolishing or lowering unnecessary administrative, technical, and physical barriers. Trade facilitation is becoming an essential task as globalization is spreading at high speed, and is regarded as an important task for Korea to upgrade its economic and business system into most advanced one in the world. Korea Customs Service has been enforcing customs laws and related rules strictly, and trying to reduce business costs for international traders. This paper overviews Korea’s trade facilitation system such as customs clearance, standards, etc.