The U.S.-Korea Free Trade Agreement (KORUS) came into force on March 15, 2012. On the day of its implementation, nearly 80% of U.S. exports of industrial goods to Korea were exempt from tariffs, including aerospace equipment, agricultural equipment, auto parts, construction products, chemicals, consumer products, electrical equipment, travel goods, paper products, scientific equipment and transportation and transportation equipment. Other benefits of the free trade agreement include strengthening the protection and enforcement of intellectual property rights in Korea and increasing access to the $580 billion market for highly competitive U.S. companies. The Korea Free Trade Agreement (KORUS) came into force on March 15, 2012. Most Korean industrial and consumer products currently arrive in the United States duty-free and the Goods Processing Tax (MPF) and this figure will exceed 95% by 2016. Information for U.S. exporters is available at the Department of Commerce`s address at: 2016.export.gov/FTA/index.asp No specific certificate is required for the U.S.-Korea Free Trade Agreement. They may be invited by the Korean importer or customs service to provide information in support of a request for preferential treatment.
For more information on what is expected to be contained, please see the certificate-of-origin free trade agreements. Please note that the Korean Customs Service does not impose a specific certificate of origin in accordance with KORUS and does not impose a form or format required for the certificate of origin. U.S. exporters or producers should be informed that, as long as you provide the necessary elements to obtain certification, you do not need to use the korean Customs Certificate or a mandatory Korean government form, although you are free to do so. Korea FTA Text: The full text of the agreement. For products that are not fully purchased, you must follow the product`s original rule, usually due to a tariff lag or regional value content. Learn more about how to read and enforce FREI trade agreements. The rules of origin are contained in the final text of the free trade agreement.
A specific rule of origin can sometimes be revised. You`ll find the latest version of ROC in the U.S. Harmonized Tariff Plan, General Notes — General Note 33. In addition to the rules of origin mentioned above, there may be other ways to qualify your product: if you have completed a certificate of origin, but you cannot justify the original character of the goods, you must notify all recipients of this certificate and the country of export. Open-form certification can be used by Korean manufacturers and exporters and U.S. importers as an alternative to original certification when they invoke compliance with the Korea Free Trade Agreement. Any right to preferences under Korea`s free trade agreement must be supported by a certificate of origin attesting to the origin status of the imported product. This link contains a PDF model that shows how to structure such a certificate of origin. The model can be filled in and users can use it. Its use or respect for its structure is by no means mandatory. However, under the applicable rules, all data that is provided must be submitted, at CBP`s request, as part of a preferential tariff application.