With effect from January 1, 2012 a further expansion of its tariff exemption programme for products from least-developed countries (LDCs) has been announced by the South Korea’s Ministry of Strategy and Finance.
Mostly 250 items of agricultural, livestock and fishery products are added to the non-tariff list along with 12 manufactured products, including shirts, trousers, jackets and infant clothing. The government of South Korea also planning to impose a looser requirement regarding country of origin of the value of a final product. According to that at least 40% of the value of a final product will need to be made in the country of export.
