TradeLane

Enjoy ISA in Korea

Posted by Taein Kim

4/6/17 10:36 AM

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The Korea Customs Service (KCS) has benchmarked the successful US Importer Self-Assessment (ISA) program and decided to establish a similar program in Korea for importers to use. Similar to the US, the ISA process starts with membership in Authorized Economic Operator (AEO). Korean AEO import companies are eligible to utilize the newly implemented ISA program, which is expected to become effective this month.

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Topics: Asia

Our Thing in Asia: Complex Compliance

Posted by Shafiqah Abdul Samat

10/14/16 1:43 PM

Asia Compliance

I’ve just joined Tradewin Asia from a large European industrial and consumer company where I was responsible for regional Asia trade compliance.  Almost every week, I would receive emails or telephone calls which required immediate attention. Common inquiries included: “URGENT! Cargo stuck at port!”; “No FORM D/E”; “The business is asking why we have to pay extra duties now.”; “Why nobody is telling us we need special licenses?”

Those were the days, when we didn’t have any compliance regime in place. No internal trade policies or standards, and everyone was doing whatever they felt was right. Norms and bad habits just continued on. Occasionally, I was praised for implementing good practices. Sound familiar?

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Topics: Asia

Think You Are Doing Just Fine? Korea Customs Auditors Might Not Think So

Posted by Taein Kim

8/31/16 11:30 AM

customs auditors

Being audited is pretty unpleasant. Having people go through your things in minute detail looking for mistakes you have made. Most companies’ normal reactions to a customs audit in Korea is probably ‘Why us?’ or ‘We are doing just fine’.

Well, unfortunately it looks like customs auditors have different views on how well companies are doing on customs compliance. In 2013, the Korea Customs Service imposed $200 million USD in additional duties collected through customs audits and investigations; more than 4.4 times the 2012 figure. And this number has been steadily growing ever since.

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Topics: Asia

HEADS UP! China Customs Revised Its Declaration Forms

Posted by The Tradewin Team

3/31/16 11:18 AM

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On March 26, 2016, China’s General Administration of Customs (GAC) announced a revision of the import and export declaration forms (GAC Announcement, No. 20 of 2016).

The revision has accommodated and consolidated all the legislative changes made by Customs, Ministry of Finance, Ministry of Commerce, and National Reform and Development Commission etc. ever since 2008, which are relevant to, or have impact on, import and export declaration process. Considering the number of fields that have been changed or added, the revision is unprecedented in past decades.

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Topics: Asia

Compliance in South Korea, NOT North

Posted by Taein Kim

3/10/16 12:35 PM

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I used to live in the USA. I spent a year in Corvallis, Oregon when I was ten years old. I remember it as one of the happiest times in my life, except for being confused about my national identity. Most of my elementary school classmates thought that I was from North Korea. This is not surprising since the North Korea nuclear issue had been surfacing at that time during George H. W. Bush’s presidency. North Korea is still a frequent topic on the famous American TV show, Conan, to this day.

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Topics: Asia, Free Trade Agreements