South Korean Government Announces Measures to Prevent Exploitation of Tariff-Rate Quota System

Govt. to prevent importers from exploiting tariff-rate quota system

The government on Thursday announced a set of measures to improve the country's tariff-rate quota system, including steps to prevent unfair practices by importers exploiting it. The measures were unveiled during a ministerial-level task force meeting on stabilizing consumer prices, particularly those affecting people's livelihoods. The meeting was chaired by Finance Minister Koo Yun-cheol. The tariff-rate quota system allows certain volumes of imports to receive lower tariff rates within a speci

By The Korea Herald