Around the world in the face of limits on multilateral trade negotiations in the WTO are not only under various negotiations but also being negotiated.
According to the trend of world trade, SOUTH KOREA was simultaneously signed in agreements of FTA with US, EU, CHINA. As a result of it, SOUTH KOREA became the world's second country by signing the FTA with these countries.
For this reason, SOUTH KOREA is expected to dominate the market from the FTA preferential tariff. FTA Currently come into effects with US, EU, CHINA Different rules of origin and certificate of origin. In the case of difference, Implementation of the FTA agreement applies to administrative aspects. It makes exporter more complex. Traders complicated when applying the FTA tends to see the FTA Customs Act on special cases rather than FTA agreement. Therefore, if the FTA Customs Act on special cases is inconsistent with the FTA agreement, traders will feel confused and burden.
SOUTH KOREA has been established the "Act on the exemption of customs duties for implementation of the Free Trade Agreement" for the smooth implementation and management of the FTA but various formats and regulations of the FTA make conflicts between the FTA tariff and FTA customs Act on special cases. In this case, the FTA tariff act is a priority.
This study compared customs agreement in the FTA, the origin of application, rules of origin, storage of documents period and issuing certificate with response period of origin verification and proposed a plan to revise the FTA Customs Act on special cases in order to match the FTA agreements.
First, the application deadline is interpreted as two years after income in FTA with EU, which should be amended for matching the FTA Customs Act on special cases.
Second, due to different the FTA customs act on special cases with the FTA tariff, rules of origin for intermediate materials should be amended.
Third, the retention period for proof of origin should be amended as 5-3 years in case of the FTA agreements with ASEAN
Fourth, the wording of the certificate of origin issued by the FTA Customs Act on special cases should be amended to suit FTA provisions.
At last, origin verification of period is missed in the FTA Customs Act on special cases with Singapore and Chile. It should be amended.
This study aims to improve the trade-off problems while applying the FTA and these amendments help traders to more smoothly and clearly implement the FTA.