SEOUL, Nov.16 (Korea Bizwire) – As the market for direct purchase products from overseas continues to show dramatic annual growth, it is estimated that by 2020 the annual trade volume will exceed $20 billion. Researcher Kim Gwang-seok from the Hyundai Research Institute (HRI) emphasized the need to establish policies that respond to the changing market, [...]
SEOUL, Sept. 30 (Korea Bizwire) – It turns out that the Korea Customs Service’s text message service, which sends out texts to customers who purchase products directly overseas to inform them that their parcel has arrived, was stopped recently without notice. Due to the increase in the number of direct overseas purchases, the Korea Customs [...]
SEOUL, Aug. 24 (Korea Bizwire) - Trade procedures among the 10 countries forming ASEAN will be simplified, and import regulations will be loosened. The 10 ASEAN countries have signed an agreement that will increase the convenience of companies focused on the export market, with new regulations expected to simplify the trading procedures and remove or reduce [...]
Seoul, July 21 (Korea Bizwire) – The Korea Customs Service announced that they have reorganized their systems so that Unique Entry Codes needed for import declarations can be issued through mobile phones with user authentication via text. Unique Entry Codes are identifying codes issued by the customs office that an individual can use instead of their [...]
SEOUL, Korea, Mar 21 (Korea Bizwire) — Domestic prices of imported toys for toddlers and children are much higher than those charged outside Korea, nearly by twice in some cases. Such price differential is way too extreme even when all the tariff duties on imported toys (0-8%), value-added taxes (10%) and distributors’ margins, which usually [...]