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Preferential Tariff Rate

tariff rates applied pursuant to Free Trade Agreement entered into force.

With the FTA entered into force, goods are categorized into immediate tariff reduction, staging reduction and non-scheduled products with fixed duty rate

Under Korea-ASEAN FTA, goods are classified into Normal Track, Sensitive List and the Highly Sensitive List

Tariff schedules of FTA contracting countries by FTA

General Rate

the most fundamental tariff rate established in accordance with the domestic laws

Base Rate

rates that represent the level of customs duty rate, used in negotiations for tariff reduction

MFN (Most Favored Nation) Rate

MFN applied duty rate that is granted to non-contracting parties

Reciprocal Tariff (Korea-ASEAN FTA)

• If the FTA partner country exports a product of sensitive track which maintains its either non-scheduled or high duty rate, the importing country will also apply the same rate even though the product in question is entitled to tariff elimination under the Agreement.
• Reciprocal duty rate corresponding with the ASEAN state’s will also apply in Korea if the duty rate applied on the product importedby the ASEAN State from Korea is no higher than 10%.