Utilization by LDCs:
In 2017, imports by the Republic of Korea from LDCs accounted for US$3,350 million, of which 73.3 per cent was eligible for duty-free market access under the LDC specific preferential scheme. An additonal 16.6 per cent entered duty free via MFN treatment.
Smooth Transition provisions:
There are no explicit smooth transition provisions in the DFQF scheme of the Republic of Korea. Recently graduated countries such as Equatorial Guinea, Samoa, and Maldives are excluded from the scheme.