A. General Information
FTA KOREA PLUS - KOREA's FTA ORIGIN DETERMINATION SERVICE
B. Lessons Learned
The Ministry of Trade, Industry and Energy of Korea supported the implementation of the FTA Trade Agreement Rule of Origin Determination Service to increase the SMEs’ utilization rate of FTAs
FTA PLUS KOREA enables the streamlined process of origin determination using AI and data compliance.
Main Functions:
FTA Information:
Rules of Origin information by FTAs
-RoO of RCEP and 17FTAs in effect
HS code search
Base Information Management
Product management
Customer Management
Bill of Materials management
Purchase/Sales ledger
Declaration of Origin Management
Origin Determination
Origin Verification Questionnair
Issuing Declaration of Origin (D/O)
Preferential Certificate of Origin
Post-Determination Management
P-C/O and D/O Signature register
Due diligence
Complicated RoO: 88% of trading SMEs interviewed complained about the origin determination; Challenges in Complicated RoO, difficult issuing process, and lack of knowledge and experts.
High Cost: The application and verification of RoO by Authority is a growing barrier ‘at the border’ in some countries. Sometimes, the total cost of utilizing FTA is higher than the tariff benefit of FTA.
Compliance: It is necessary to prepare for the risk of additional customs duties due to errors in the determination of origin and incomplete determination documents.
Administration burden: Responding to the customer's request for a Country of Origin Management is necessary. It is needed to prepare for due diligence.
Preferntial COs