Customs agency vows to speed up clearance ahead of Chuseok holiday

South Korea's customs agency pledged Friday to expedite import clearance to ensure a smooth supply of goods in the lead-up to the upcoming Chuseok holiday, which will run from September 24-27. To achieve this, the Korea Customs Service (KCS) will deploy special support teams to work around the clock from Monday through September 27. The agency's goal is to ensure that imports are swiftly released into the market.

In addition to speeding up the clearance process, the KCS plans to make import prices more transparent by disclosing the cost of 89 agricultural, livestock, and fishery products. This move aims to enhance market clarity for consumers and businesses alike.

Moreover, the customs agency will intensify its efforts to detect and penalize violations of country-of-origin labeling on popular imported food items. The heightened scrutiny reflects the government's commitment to safeguarding domestic industries and protecting consumers from potential fraud.

Finally, the KCS will streamline the processing time for tariff refunds. Instead of the usual two-day processing period, exporters can now expect their refunds to be issued on the same day. This change is expected to provide a much-needed boost to the export sector, which has been grappling with increased costs and reduced profitability in recent years.