Muheop Hosts 'RCEP Utilization Webinar for Chinese Market Entry Companies'

[Asia Economy Reporter Jin-ho Kim] The Korea International Trade Association (KITA) announced on the 11th that it held a webinar titled 'Practical Utilization of the Regional Comprehensive Economic Partnership (RCEP) for Korean Companies in China' in collaboration with the Korean Embassy in China.

During the webinar, following the enforcement of RCEP in South Korea on the 1st, an introduction to RCEP was provided along with a comparison between the Korea-China Free Trade Agreement (FTA) and RCEP, key countries' tariff concession regulations and utilization strategies, and support projects from the FTA Utilization Support Center.

Customs Officer Ha Chun-ho of the Korean Embassy in China evaluated, "Under RCEP, raw materials procured from all 15 member countries are recognized as originating within the region, making it more advantageous for our companies to enter overseas markets."

Zhou Mi (周密), Deputy Director of the International Trade and Economic Cooperation Institute under China's Ministry of Commerce, advised Korean companies, "Each company should fully utilize the tariff concession regulations for their export and import items and the cumulative origin application rules among member countries within the region, and it is necessary to establish production plans and optimize supply chains in accordance with RCEP regulations."

Park Min-young, head of KITA's Beijing branch, said, "We hope that companies were able to gain tips on utilizing RCEP through the webinar," adding, "The association will actively support our companies to effectively utilize FTAs and RCEP."

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