Choi Sang-mok "Reforming Export-Import Killer Regulations... Global Trade Environment Rapidly Changing"

Attendance at the National Customs Directors Meeting

Choi Sang-mok, Deputy Prime Minister and Minister of Economy and Finance, is delivering a greeting at the National Customs Directors' Meeting held on the 28th at the Incheon Airport Customs Export-Import Clearance Building in Jung-gu, Incheon Metropolitan City.

Choi Sang-mok, Deputy Prime Minister for Economy and Minister of Strategy and Finance, urged customs officials on the 28th to "take the lead in boldly abolishing outdated regulations at the forefront of export and import sites."

At the '2024 National Customs Directors Meeting' held at the Export-Import Clearance Building of Incheon Airport Headquarters Customs on the same day, Deputy Prime Minister Choi said, "As the global trade environment rapidly changes, the difficulty of customs and border management is increasing."

He added, "Due to the prolonged effects of high inflation and high interest rates, domestic demand recovery is slow, and the economic sentiment is weak. External risks surrounding our economy are expanding, including concerns about economic slowdown in major countries, strategic competition between the U.S. and China, global supply chain restructuring, major national elections, the Russia-Ukraine war, and the situation in the Middle East."

He then urged, "The Customs Service should also boldly abolish outdated regulations with the mindset of 'I am an employee of this export-import company' at the forefront of export and import sites."

The government is currently promoting tax law amendments, including the introduction of a monthly tax filing system to support export-import companies and improvements to the pre-clearance review system before customs clearance.

He continued, "Please further advance the supply chain early warning system (C-EWS) operated by the Customs Service and promote innovations in the customs clearance system, such as launching a dedicated customs clearance platform for e-commerce in response to the recent surge in cross-border B2C e-commerce."

To block illegal narcotics, the government established a legal basis last year for collecting information on high-risk narcotics users and this year explicitly designated illegal narcotics as prohibited items for export and import.

To block intellectual property rights-infringing goods, the government is promoting a legal amendment to specify defense technology as a subject for customs clearance suspension.

Deputy Prime Minister Choi added, "Based on these institutional foundations, please strive to block illegal hazardous goods with the introduction of advanced inspection systems and with a more serious sense of responsibility than ever before."

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