KCS Expands Customs Investigation Exemption to Companies Located in Daegu and Gyeongbuk

On the 15th, Noh Seok-hwan, Commissioner of the Korea Customs Service (second from the right), held a meeting with CEOs of the automotive parts and textile industries in the Daegu-Gyeongbuk region at the Daegu Chamber of Commerce and Industry. Photo by Korea Customs Service

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Korea Customs Service is expanding the scope of deferred customs inspections to include companies located in Daegu and Gyeongbuk.

On the 15th, the Korea Customs Service announced that it will temporarily expand and apply the deferral of customs inspections to support companies affected by export declines and operating losses due to the novel coronavirus disease (COVID-19).

First, companies in the five major industries?automobiles (including parts), aviation, shipping, refining, and shipbuilding?as well as companies located in the COVID-19 special disaster areas such as Daegu and Gyeongbuk, will have customs inspections deferred from July this year through June next year without needing to apply separately for the deferral.

The Korea Customs Service will also defer customs inspections for all small and medium export-import companies whose export or sales have decreased by 20% or more compared to the same period last year, and for companies that create jobs or maintain employment, upon application, for the same period as the five major industries.

In particular, companies that plan to create jobs and hire young workers will be given weighted consideration when calculating the number of employees.

Applications for customs inspection deferral can be submitted via the Korea Customs Service website, by mail, or in person until the 5th of next month.

Meanwhile, on the same day, Commissioner Noh Seok-hwan of the Korea Customs Service visited the Daegu Chamber of Commerce and Industry and held a meeting with the automobile parts and textile industries in the Daegu and Gyeongbuk regions.

At the meeting, Commissioner Noh said, “The Korea Customs Service will focus its customs administration capabilities on minimizing the damage to domestic companies caused by COVID-19,” and added, “If any difficulties or suggestions arise regarding customs clearance logistics for import and export goods, each company is urged to actively seek support from the Korea Customs Service.”

This content was produced with the assistance of AI translation services.