[1] Concept
[2] Requirements for import license |
(1) Whether applicants is qualified to acquire approval.
(2) If import/export is restricted due to related laws, meet the restriction items.
(3) Import/export region should be free of restriction regards to the related law.
(4) Applying H.S should be appropriated.
(5) Payment currency and payment method should be recognized transaction against foreign currency Act.
(6) Import fine should have been paid (For domestic import only) |
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[3] Required documents for application |
(1) Import approval application
(2) Importing contract or offer sheet |
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| - The requisites of offer sheet to approve import |
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1. Local issued offer
2. Overseas issued offers are approved as exceptional |
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| - Approving range for overseas issued offers |
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- Material to acquisite foreign currencies, importing materials for making tools (if the import is not for domestic use)
- When importing goods that are under the fixed amount according to the related law's regulation
- When a defence industry is importing for a defence industry
- If the import is according to the contract between joint venture, technology adopting for investing or from technology partnership |
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- Offer confirmed with general items of products, quantities, unit price and validity
- With proforma invoice, be cautious because it usually exclude validity. |
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(3) Import agency contract
(4) Payment certification for import fine
(5) Payment certification for deposit refund (Relevant goods)
(6) All other documents required by import permit organization |
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[4] Import permit waiver |
| (1) The purport of the system |
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| - Import permit is waived if importing for small sum transaction, goods for special service, goods for international diplomacy customarily and that they are non-commercial transaction having small contribution to the national economy. |
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| (2) If import permit is waived |
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| - On the stand of a person with a particular social position is waived. |
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1. Personal belongings of the travellers for temporary staying purpose
2. Moving goods of the people that enter into and departure from the county and those long-term staying or people with moving purpose
3. Crew members' belongings of a aircraft or a vessel
4. Belongings of the chief of the country, a personage and the attendants
5. Government invited personage's belongings |
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| - Goods that are importing/exporting in the purpose for special service usage. |
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1. Samples or for advertisement
2. Goods for exhibition or a show
3. Replacement goods for claims and such
4. Goods for repair or inspection purpose
5. a bareboat charter, rented aircraft
6. Raw materials for no draft consignment process trade
7. Goods for technology adoption or to compensate the adoption.
8. Business goods for foreign business partners
9. General goods or goods for aircraft |
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| - Goods release/ Carrying in for no charge |
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1. Repeat usage tools (container) for goods transportation
2. Tools for filming movies
3. Films for TV broadcasting
4. Tools for repair or for inspection
5. Aircraft or vessel |
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| - Goods take out/ Carrying in for public usage purpose |
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1. Goods of diplomacy for business
2. the righteous goods such as a decoration, a
3. Gift of friendship purpose (Government - for local government organizations, for religious organizations, for schools and such)
4. Goods for sports players participating for international games
5. Fluid, ashes |
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| - Good for emergency rescue or that requires urgency |
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1. Goods to repair wrecked vessel
2. Goods to repair an aircraft
3. Goods to repair international communicating system
4. Goods to repair a foreign voyage |
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1. Label, tags
2. small amount of raw materials at no-charge
3. regular publication, micro films and school supplies
4. medicines under fixed amount |
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- Although the goods are subjected for export approval the customs clearance is a must
If one can present a proof that the goods are subjected for approval waiver instead of
export approval certification, the goods can be cleared with the customs officer's
confirmation.
- Goods that are publicized in public according to the specific law: They are not
included in approval waiver, If subjected for export wavier : Goods can be export
without fulfilling the purports regulated in the integration public notice
- There are export automatic approval goods or export restricted goods (Taxable amount
has to be under fixed amount) for export wavier goods: In principle, customs clearance is permitted by a ground statement but with the export restricted goods that exceeds taxable fixed amount, other documents that proof the same fact is necessary to be presented for clearance. |
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| (4) Export waiver procedure |
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1. Goods subjected for export waiver
2. vessel arrival
3. goods unload
4. Carrying in the goods to bonded area
5. check systems
6. report import
7. Goods inspection |
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| - Goods inspection that are not subjected for export waiver: Entire goods inspection in principle. Some inspects can be eliminated according to the goods character and
the company's credibility. |
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| 8. Customs clearance inspection |
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| a. Goods to be exemption from taxation |
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- Goods that are recognized for only sample usage considering the goods shape,
character and performance
- Goods that are recognized for only sample usage because it is perforated or it
has been cut or processed in a way it can not be fabricated.
- Goods that are recognized for only sample usage because taxation amount is
under fixed amount |
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| b. Required documents for customs clearance (Follow each country's related law) |
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9. Statement of payment
10. customs duty and juridical payment
11. import license
12. Goods release |
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[5] Import license approval modification |
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- Export by the person who acquired export approval in the beginning - To change approved items of export, a changing approval has to be requested to the initial approval organization (if done by recommending authority, it has to go through the export recommending authority), and such request has to be done within the validity period.
- If trying to change import approval items after export earning is fulfilled and after acquiring the shipping documents, changing approval can be made after the validity period is expired. (In this case, the changes made to the approval has to be reported to the said customs officer. |
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| (2) Important facts in modifying approval |
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1. Items--If the goods are restricted for import/export related to the law and requires related personnel's approval, the approval is necessary.
2. Unit price--If try to change unit price of exporting goods or to increase the unit price, the change has to be done before the shipping.
Ref--If the other party refuse to pay/take over and resale to third parties, if import/export 1st industry goods which unit prices are to be determined after the shipment such as Nonferrous metal and minerals according to the international trade custom : Modification available after shipment.
3. Payment method-- Payment currency of import/export earning. Period for payment or changing payment method: Permitted by the Foreign Exchange Regulation Act.
4. Destination--Changing countries to import/export : There should be no obstacles to change to other country according to the related regulations.
5. Documenting the changed contents--Contents to be modified should be indicated in the L/C, import/export contract, purchase order and on the offer sheet. |
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| (3) Modification approving authority |
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1. Principle--The import/export approving authority in the prior (If export approved is by recommending authority, then it has to go through the authority)
2. Exception--Custom officer's modification approval (selectively apply between the export approval authority ) |
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| (4) Changes of import license |
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| - Dimension, Weight, HS, Items --Modification for the goods that are not restricted for importing/exporting against the related regulation and limited to fulfil the both requirement. |
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| (5) Items that are not acceptable for modifications |
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1. HS and name of goods--Modification for the goods that are not restricted for importing/exporting against the related regulation.
2. Dimensions and weights --Modification for the goods that are not restricted for importing/exporting against the related regulation that are not subjected for limitation to the regulation. Unit price, amount and standard taxation are not to be changed. |
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| (6) Procedure for modification approving |
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1. Documentary evidence for the modification
2. Application to request modification approval (Banks, recommending authority, the customs) |
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- 4 application to request export license modification approval
- The original import/export license
- Documents that can proof reason for modification (Changed L/C, contract,
offer sheets etc.)
- Recommendation letter, permission and all other documents |
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| 3. Reviewing important things in modification |
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a Documenting modification approver
- Contents of modified approver :Indicate on L/C, exporting contract and offer sheets for export. Indicate on offer sheets and on contract for the import.
b Changing the parties and the type of transaction
- Changing the parties for import/export and the type of transaction : Since it would prerequisite another separate contract, it can not be subjected for modification approval.
c The usage modification for customs cleared goods
- This is not a change for the usage purpose but subjected for the export license changes.
- If changing from domestic usage to foreign currency acquiring : Levy import duty and if there is a restriction, it must be fulfilled. |
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| 4. Modification approving |
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[6] Extending import license validity |
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1. A person acquired export/import license has to export/import the goods that have
been approved within the valid export/import license period and make or pay the
payment.
2. Validity period for export/import license : In principle it is from the date export/import
license was issued to ~ years. However, it can be re-adjusted separately within ~
years according to the goods delivery terms, goods payment period and for other
necessary requirements.
3. If either export/import of the goods or export/import payments are not executed in the
valid period, the period has to be extend. |
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| (2) Import license validity period for a new restricted goods for import |
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- When the said goods are subjected for the newly restricted goods within the import
license valid period : Anyone who has not made import of the goods, or opening L/C or not made payment before the limited public notice period, the valid period will be
expired on the newly restricted public notice period.
- L/C opening date : L/C Cable dispatching date is the opening date. |
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<1> A fine processed
<2> extend validity or extend authority
<3> review reason for extension
<4> extension approve |
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[7] Managing import license after process |
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| - The director of the export/import license authority has to make sure if the goods that
are approved for export license have been export within the export/import valid period
and also whether the payment recognized for the export/import goods are received or
paid. |
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| (2) Payment process approving |
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| - Importance of outstanding payment approval |
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1. After the goods are delivered, the transaction party is missing therefore, there is no
one who can claim for the payment and the fact is confirmed by the transaction
party's bank, KOCHAM or other public organizations.
2. When the transaction party gave up on the part/whole of the payment bond or
when the transaction party agree to reduce the amount.
3. Due to the transaction parties' dispute, some portions of the payment are to be
reduced or used as expense and such are confirmed by a arbitrary organization, a
court or by the insurance organization. |
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| - Exception for payment process approval (Waive ex post facto management ) |
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1. Executing export/import is impossible due to the person who acquired xport/import
license is bankrupt or missing.
2. When the outstanding balance of payment or unpaid balance for payment is less
than the fixed amount.
3. When there is no one to continue the transaction because after the deposit was
sent, the person is missing. |
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1. Export license
2. Appoint ex post facto management authority (banks)
3. Customs clear export goods, payment received or paid, customers clear not performed
for the export goods or non-collection and unpaid
4. Extend export license validation period (If needed)
5. Subjected for ex post facto management waiver and approve payment process for export/import
6. Inspect ex post facto management
7. Terminate ex post facto management |
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| (4) ex post facto management report |
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1. L/C method , D/P . D/A method, Payment after method, local delivery method -- No
need to execute separate ex post facto management
2. Remittence base--Within the ~ das from the export/import customs clearance, attach
the export/import permit and report the execution conducted.
3. Consignment transaction--Non-sold goods to be reported for export/import again
within ~ months of the contract period is expired.
4. Rental transaction--Report export/import again with months after the rental contract
is over
5. Inter transaction--Within ~ days from the export/import customs clear attach a copy
of export/import permit and report the execution conducted.
6. Consignment processing trading--Execute export/import within the valid export/import
period .Report within the ~ days of export/import customs clear and report the
execution conducted.
7. Overseas arrival import --Within the ~ days of imported goods are delivered report the imported goods acquired status. |
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Trade Helper 
Ex-Import Procedure(to Way of Payment)
Export-Import procedure according to the Irrevocable Documentary Credit method
Import Licence (I/L)
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