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Dhl South Korea Fact Sheet

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Dhl South Korea Fact Sheet DHL SOUTH KOREA FACT SHEET North Korea OVERVIEW Since the 1960s, South Korea – officially the Republic of Seoul Gangneung Korea – has set world records in economic growth and Incheon development, underwritten by a focus on heavy industry Samcheok and manufactured exports. In 2009, the country became the first nation to go from being an Organisation for Economic Co-operation and Development (OECD) aid recipient to a member of its donor committee. Today, South Korea is SOUTH KOREA the world’s twelfth-largest economy and leading global Buyeo Yeongdeok supplier of LCD screens, memory chips and mobile phones. Pohang The country’s population is highly educated – 74 per cent Gunsan of South Koreans hold postgraduate-level degrees – and Daegu technologically advanced with the world’s highest level of Gyeongju broadband penetration. As a result, South Korea obtained Gwangju first place in Bloomberg’s Global Innovation Index 2014. Masan Busan South Korea’s government has several initiatives underway Mokpo to foster sustainable economic growth. This includes building on the success of sectors that are already globally competitive, such as construction engineering, but also expanding health care, tourism and financial services. The KEY country is also developing its SME sector and aims to become Capital City Major City one of the top ten business-friendly economies in the world, DHL Gateway encouraging foreign investors through incentives such as tax support, simplified regulations and grants. South Korea’s Jeju City economy grew 2.8 per cent in 2013 and could achieve 3.8 per cent growth in 2014 according to the Bank of Korea; by 2019, South Korea’s economy is set to be the tenth largest DHL FACTS contributor to world growth. Locations: 69 South Korea’s Free Trade Agreement (FTA) with the EU is estimated to be worth over £500 million to British business Gateways into the Country: 1 each year. The country is a designated high growth market Number of Service Centres: 22 for the UK, and more than 150 British companies are already doing business in South Korea. DHL Delivery Zone: 8 Sources: The Economist, Bank of Korea, Bloomberg, GOV.UK, UKTI Vehicle Fleet: 426 Country Profile Capital Seoul Population 49 million Area 99,720 sq km Currency 1 won (KRW) = 100 jeon GDP US$ 1.666 trillion (2013 est.) Languages Korean, English Ethnic Groups Homogeneous, exempting 20,000 Chinese Source: CIA World Factbook DHL South Korea Fact Sheet 2 ESSENTIAL CUSTOMS INFORMATION For an estimate of landed costs (duties, taxes and other import fees) for shipments going to the South Korea, use the free DHL Express Trade Automation Services (TAS) tool. tas.dhl.com TAS also provides information on regulation compliance and trade documentation. The UK-South Korea Free Trade Agreement allows for a reduced or nil rate of duty for UK origin goods. For further information on what documentation you need to provide to support the claim for duty relief, visit hmrc.gov.uk E-commerce shipments (B2C) are declared as formal entry regardless of invoice value. De minimus clearance is not permitted. This TRADE INFORMATION includes articles of paper, printed books, apparel and clothing accessories, footwear, CDs/DVDs, Exports from South Korea Imports into South Korea furniture, lamps and lighting. US$ 557.3 billion (2013 est.) US$ 516.6 billion (2013 est.) Korea Customs Service is very strict on undervalued shipments, vague descriptions (e.g. sample, spare Export commodities Import commodities parts) and inaccurate company name/address, all of Semiconductors, wireless Machinery, electronics and which can result in additional delays and penalties. telecommunications electronic equipment, oil, equipment, motor vehicles, steel, optical instruments, General correspondence (business or private) is auto parts, computers, transport equipment, organic under strict Customs supervision to detect illegal display, home appliances, chemicals, plastics. goods concealed as document shipments. wire telecommunication Top Import Origins Certain items, as specified below, are subject to equipment, steel, ships, USA, China, Germany, Hong quarantine inspection by South Korea’s Animal and petrochemicals. Kong, UK, Japan, Italy, Taiwan. Plant Quarantine Agency (QIA); approval by South Top Export Destinations Korea’s Ministry of Food and Drug Safety (MFDS); USA, China, Japan, Hong approval by South Korea’s Ministry of Health and Kong, Russia, Germany. Welfare (MOHW); or approval by South Korea’s National Radio Research Agency (RRA). Source: DHL, CIA World Factbook Prohibited Items The list below is in addition to DHL’s standard list DUTY FREE ALLOWANCE US$ 100 of prohibited items. • Asbestos UK to Country Transit Times • Cancelled cheques (NI) if in a bearer form The times provided for dutiable shipments are based on the time expected for customs in South Korea to clear the shipment. This is contingent upon • Dangerous goods, hazardous or combustible the value of the shipment. materials • Goods from the Democratic People’s Republic Seoul Non-Dutiable: 3 days Dutiable: 3 days of Korea (North Korea), including propaganda Busan Non-Dutiable: 3 days Dutiable: 3 days • Firearms, or parts of Gwangju Non-Dutiable: 4 days Dutiable: 4 days • Soil & soil samples Ulsan Non-Dutiable: 3 days Dutiable: 3 days • Toy guns Sokcho Non-Dutiable: 5 days Dutiable: 5 days DHL South Korea Fact Sheet 3 Restricted Items For more information Alcoholic beverages Foodstuffs If you need support or advice on trading Formal import: subject to quarantine Subject to quarantine inspection by QIA, with South Korea, help is available. inspection by QIA; receiver must have unless canned or tinned. If value exceeds Contact the DHL Express team on import licence. Samples imported by licensed US$ 150: provide Certificate of Origin. companies for private consumption: 1 Jerky: Certificate of Origin required 0844 248 0675 bottle can be imported without quarantine regardless of value. DHL Customer Services is also inspection, though formal clearance is Non-hazardous chemicals & liquids, available on 0844 248 0844 required. Receiver needs to pay liqueur tax oil products including bunker oil regardless of invoice value. Total amount Contact your local Chambers of samples (for analysis) and substances should not exceed US$ 400. containing sodium/calcium cyclamate Commerce Animal products, including cosmetics Provide component analysis table. Adhere www.britishchambers.org.uk with bovine components to the International Transport Association’s Contact your local UKTI Unprocessed: Subject to quarantine (IATA) Dangerous Goods Regulations. www.ukti.gov.uk inspection by QIA. Shipper to provide Magazines, periodicals, quarantine inspection report on collection Visit www.dhlguide.co.uk for journals, newspapers at country of origin. international trade information If free of charge and not for resale purpose: Bovine products: receiver to provide and to read our blog send as documents. Certificate of Non-BSE (Bovine Spongiform Encephalopathy) Product from MFDS. Medical samples Follow us on Twitter @dhlexpressuk Licensed importers: provide recommendation Licenced importers: provide recommendation to keep up to date with all the latest from related organisation. from related organisation. Blood: Contact developments in international trade DHL Customer Services before shipping; Animal skins must be packed with cooling device. Human Subject to quarantine inspection by QIA. blood samples: only permitted if imported Artwork including drawings by the International Red Cross and Red / proofs / layouts Crescent Movement. Artwork including drawings: ship as Military equipment goods. Artwork including proof/layout: Acceptable only for military bases or ship as documents. military officers. Biological Substance Category B, Photographs, including photographs UN3373 as part of business reports Adhere to the International Transport Ship as goods regardless of use or purpose. Association’s (IATA) Dangerous Goods Regulations. Plants & plant products Subject to quarantine inspection by QIA. Circuits & circuit boards, Soil must be completely removed, or the communications & telecommunications shipment will be destroyed (charge: US$ 90) equipment, computer components or returned to origin. Contact DHL Customer & parts, electronic equipment including Services before shipping to ensure the MP3 players, printers & IT equipment, plants are not restricted. phones / modems and radios including radio equipment / parts Seeds, including cotton seed RRA certification required. Certain items will Subject to quarantine inspection by QIA. require certification by South Korea’s Law Seeds for cultivation purposes: provide of Electrical Appliance Safety Management original phytosanitary certificate from or Law of Electrical Communications country of origin. Apparatus; contact DHL Customer Services Ship spares for ships in transit before shipping for more information. Show full description, quantity and name Consumable finished goods including of vessel on invoice. Penalties may be footwear, clothes and bags incurred if manifest is unclear. If value exceeds US $100: state trademark Tobacco /brand name on the invoice. Subject to quarantine inspection by QIA. Drugs: prescription & non-prescription For medication from China, perishables Health products and vitamins: 6 bottles and x-ray machines please contact DHL permitted per Waybill. Other drug products: Customer Services before shipping. provide component analysis table. Attach additional prescription for personal use. All importers other than individuals should be licenced and receive import approval from MFDS or MOHW. Valid from: 06/2014.
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