Items restricted for export or ¡°items of specific types of transactions"
The Management of the export price
The Management of raw materials for foreign currency acquisition
Implementation period for foreign currency acquisition
Approval of a change in the purpose of use
Approval of transfer between trading firms
This is a system designed to exempt importers of the Materials from their obligation of supplying the materials for export purposes. This shall be applied only under unavoidable circumstances. In this case, importers should acquire approval from a mayor or a provincial governor or the head of a the Management institution of agricultural and fisheries products.
Conditions for the approval
Cases where foreign currency acquisition is impossible due to war, mishaps, natural disasters or changes in system in Korea or its trading partners
Cases where goods made from the Materials require pilot products before the acquisition because manufacturing needs sophisticated technology
Cases where foreign currency acquisition is impossible for reasons beyond the control of the Person.
Cases where the Minister of Commerce, Industry and Energy recognizes that foreign currency acquisition is impossible due to unavoidable situation
Case where foreign currency acquisition is impossible due to fire and natural disasters
Case where imported materials cannot be used due to the development of new products stemming from technological innovations and changes in customers' preference
Case where imported materials cannot be used due to changes in their nature
Case where a mayor or a provincial govern or recognize that the imported material cannot be used for reasons beyond the control of importers or purchasers
Required documents
Four applications for the approval of a change in the purpose of use (Form 4-10)
A document showing the reasons for the application
A document verifying the quantity of materials for the approval
A document verifying the convincing reasons for the application
Other documents required by the head of institution in charge of the approval
An approval of transfer between trading firms
This system is designed to allow trading firms unable to supply the Materials for export purposes to transfer the materials to other importer. In this case, assignee takes the responsibility of supplying the material for export purposes and of taking the Management.
[ An application for the approval of transfer between trading firms ]
Applicants shall submit the following documents to the head of an institution in charge of the Management :
Three applications for the approval of transfer between trading firms (Form 4-11)
A contract document of transfer and takeover
Certificates of import declaration or tax payment for raw materials