Korea Customs Service Archives | Be Korea-savvy
Tariff on LNG Imports Faces Backlash from Energy Firms

Tariff on LNG Imports Faces Backlash from Energy Firms

SEJONG, Dec. 12 (Korea Bizwire) — South Korean energy companies are resisting a recent government decision to impose a huge tariff on steel giant POSCO for its imports of low-priced liquefied natural gas (LNG), industry sources said Tuesday. The backlash comes after the Korea Customs Service (KCS) informed the country’s leading steelmaker on Nov. 30 [...]

South Korea Delays Opening of New Duty-Free Shops amid THAAD Row

South Korea Delays Opening of New Duty-Free Shops amid THAAD Row

SEOUL, Sept. 29 (Korea Bizwire) – South Korea has postponed the opening of new duty-free shops by one year amid a diplomatic  row  between Seoul and Beijing over a missile defense system, industry sources said Friday. In December last year, the Korea Customs Service (KCS) announced six new operators of duty-free shops in Seoul and two provincial cities, giving them 12 months to prepare to open their shops. The KCS [...]

S. Korea’s Overseas Direct Purchases Surge in H1

S. Korea’s Overseas Direct Purchases Surge in H1

SEJONG, Aug. 11 (Korea Bizwire) — South Koreans’ direct purchases from foreign countries rose sharply in the first six months of the year on rising demand for cheaper price tags, customs data showed Friday. A total of US$974.1 million worth of foreign goods was directly bought by South Korean shoppers via international shopping malls in [...]

Rebidding for Remaining New Incheon Airport Duty-free Shops Fails Again

Rebidding for Remaining New Incheon Airport Duty-free Shops Fails Again

SEOUL, May 10 (Korea Bizwire) – An attempt to lease out the remaining duty-free store licenses by tender at the new terminal at Incheon International Airport has failed again, as no duty-free operators made a bid, authorities and industry sources said Wednesday. The auction for licensing to run the apparel and accessories store at the [...]