We are proud to announce that Managing Partner Jinwoo Rhee and Customs Advisor Hanjin Lee have been awarded the Grand Prize in the "2023 Customs Valuation and Classification Research Paper Competition," specifically in the customs valuation category.
Their research, titled "Establishing Reasonable Customs Valuation Standards for Discounts: A Comparative Study of the WTO Customs Valuation Agreement and Foreign Legislation," highlights the collaborative strength of legal and customs expertise in addressing a key challenge in international trade.
Discounts are commonly applied in trade transactions, yet no clear regulatory guidance exists regarding how discounts should impact the customs valuation of imported goods. This study provides a detailed analysis of valuation methods for discounted prices and presents innovative solutions to strengthen Korea’s customs administration practices.
At Kim & Rhee Law Office, we are committed to supporting the global business success of our clients through comprehensive and forward-thinking legal solutions.
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