Attorney Jinwoo Rhee of Kim & Rhee Law Office Appointed as a member of the Customs Valuation Advisory Committee at the Korea Customs Valuation and Classification Institute.
The Korea Customs Valuation and Classification Institute is an organization under the Korea Customs Service responsible for customs valuation and classification of imported and exported goods.
The Korea Customs Valuation and Classification Institute plays a pivotal role in ensuring fair customs valuation by researching various measures for determining the taxable value of goods. Additionally, it assigns HS codes (Harmonized System classification numbers) to accurately determine the tariff rates and customs duties for goods. Through these functions, the Korea Customs Valuation and Classification Institute provides recommendations and opinions on resolving disputes arising in trade.
The Customs Valuation Committee at the Korea Customs Valuation and Classification Institute is a consultative body comprising experts who gather to discuss and address issues related to customs valuation and classification. The committee primarily deliberates on complex customs valuation and classification matters, working to resolve challenges in international trade.
In particular, the committee develops standards for customs valuation and classification to accommodate emerging technologies and products.
As a member of the Customs Valuation Committee, Attorney Jinwoo Rhee of Kim & Rhee Law Office will contribute to maintaining transparency and fairness in international trade. His role will be critical in minimizing disputes related to customs matters.