The South Korean government has introduced new measures to prevent importers from abusing the tariff quota system

The South Korean government announced a series of measures on Thursday to improve the country's tariff quota system, including measures to prevent importers from engaging in improper conduct through the system. The Ministry of Finance stated that under the new measures, the government will categorize projects with a high risk of violations as "key management projects" to strengthen oversight. The government will also introduce a requirement for importers to provide proof of sales performance to ensure that imported goods can be sold in the domestic market in a timely manner. The customs department will conduct in-depth investigations into companies that obtain tariff quotas through fraudulent means. (Sina Finance)