Starting a Business with Your Hometown Goods in Korea: Import Customs Clearance and Tariff Reduction Benefits Released

Are you considering starting a business in Korea with unique products from your hometown? Understanding import customs clearance procedures and tariff reduction benefits can lead to a more successful business venture. This article provides essential information for foreign workers looking to start a business with their hometown goods in Korea.

1. Business Registration

To conduct business in Korea, you must first register your business. The business registration process involves the following steps:

1. Business Registration Application: Apply at the local tax office with jurisdiction over your business location or online through Hometax.
2. Proof of Foreigner Registration: Submit your foreigner registration card and business registration application.
3. Business Registration Certificate Issuance: Receive your business registration certificate from the tax office.

2. Import Permit

Some goods require an import permit before being imported. Items like food, pharmaceuticals, and animals/plants may require quarantine or permits.

1. Check Import Permit Requirements: Determine if the goods you intend to import require a permit.
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Contact Relevant Authorities

: Contact relevant authorities such as the Ministry of Food and Drug Safety or the Animal and Plant Quarantine Agency to verify required documents and procedures.
1. Apply for Import Permit: Prepare necessary documents and apply for an import permit with the relevant authorities.

3. Import Customs Clearance Procedures

Imported goods must go through customs clearance at the customs office.

1. Import Declaration: Submit an import declaration to the customs office.
2. Customs Duty and VAT Payment: Pay customs duty and value-added tax (VAT).
3. Goods Inspection: The customs office may inspect the goods.
4. Customs Clearance and Goods Release: Once customs clearance is complete, the goods can be released.

4. Tariff Reduction Benefits

Korea offers various tariff reduction benefits.

1. Utilization of FTA: Tariffs can be reduced by utilizing Free Trade Agreements (FTAs) that Korea has entered into.

Application for Tariff Reduction

: Apply for tariff reduction if specific conditions are met (e.g., goods from developing countries, goods supporting specific industries).
1. Inquiry to Korea Customs Service: Inquire with the Korea Customs Service to determine eligibility for tariff reduction and application procedures.

5. Useful Information and Tips

• Korea Customs Service Website: Check the Korea Customs Service website for the latest customs information and tariff rates.
• Customs Broker: It is advisable to seek assistance from a customs broker for complex customs clearance procedures.
• Foreign Resident Support Center: You can receive business registration and customs clearance consultation at a Foreign Resident Support Center.