dhl south korea fact sheet

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