Preferential Market Access- Republic of Korea

The Republic of Korea provides DFQF market access for imports from LDCs since the entry of force of the Presidential Decree on Preferential Tariff for LDCs in 2000. Product coverage has been continuously increased since 2008. In 2007, only 1.8 per cent of all tariff lines were covered. In 2017, 74 per cent of all tariff lines were included in the preferential scheme, while duty free market access was granted for another 16 per cent of the tariff lines via the MFN principle.

See also Expansion of the Republic of Korea’s DFQF Market Access for LDCs


 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.

Resources:

  1. WTO information on  Republic of Korea’s Preferential Tariff for LDCs
  2. Presidential Decree on Preferential Tariff for LDCs
  3. ITC-International Trade Statistics