South Korea weighs Hormuz deployment as US seeks greater support

The Korea Customs Service has announced a series of special measures to facilitate the flow of holiday goods and alleviate financial strain on exporters ahead of the Chuseok autumn festival, which begins on September 7th. From September 7th to 27th, 34 customs offices across the country will be staffed around the clock, including during nights and holidays, to expedite the import clearance process for seasonal food items and essential raw materials.

These dedicated teams will prioritize the inspection of holiday food staples and urgently required raw materials while simultaneously tightening controls on potentially unsafe or illegal food products.

In addition, specialized teams will be deployed at customs offices in Incheon, Pyeongtaek, Gunsan, Yongdang, and Gimpo Airport to handle the anticipated increase in direct overseas purchases, or personal imports bought directly from foreign online retailers. To prevent the hoarding of goods subject to tariff-rate quotas, such as frozen pork and fruit, the customs agency will impose surcharges on late import declarations and intensify inspections of bonded warehouses to ensure the prompt release of products.

To assist exporters in managing their cash flow during this busy period, a special customs refund support period will be in effect from September 10th to 23rd. During this window, exporters will receive refunds for eligible expenses, helping to ease the financial burden associated with the influx of holiday goods and the heightened customs clearance activity.