Korea Connection: Update on Export Procedures
Dear WTCAK Members and Friends:
Korea is one of Alaska's most important trading partners and is currently ranked #3 among all overseas markets. Last year, exports from Korea totaled $576 million (January - October, 2011). Seafood is the largest export category from Alaska to Korea. The Free Trade Agreement between Korea and the U.S. (KORUS FTA) was brought into force on March 15, 2012. For more information on the KORUS FTA you can visit the ATO Seoul Web site. Please note that this information is concerned with agricultural exports from the U.S. including food, beverages, seafood, etc.
We are pleased to forward the following update from our colleagues at Agricultural Trade Office (ATO) - U.S. Embassy in Seoul, Korea:
In response to a range of questions regarding country of origin certification, the ATO recently posted additional guidance on their Web site. You can find this information at Country of Origin Certification. This information reflects their current understanding of how the agreement will be applied by Korean Customs. As you may know, certification of the country of origin may be issued by the exporter, manufacturer or importer; third party certificates (e.g. Chamber of Commerce) will not be accepted. It is the ATO's understanding that Korean importers are reluctant to issue the certificate themselves and are advising exporters that they should issue the certificate. We will continue to monitor the situation.
Executive Director, World Trade Center Alaska
Consultant, U.S. Department of Commerce
Posted: April 4, 2012