Hi all. As i'll be here for a while, i'm having some of my old video game collection mailed to me, some old NES and SNES cartridges. These are games that I own and some of them are extremely valuable. However they are used, not new, and belong to me. How can I make sure Korean Customs knows this before I get it sent to me from the UK? Obviously I will put down the true value of the items (a lot), but will this just invite customs to slap a 20% import tax on me? Thanks in advance.
Hi, I ordered an item from Amazon.com and they require a PIN (personal identification number) for Korean customs in order to ship the item. Of course, the site they sent me to register for one is all in Korean and even my Korean friend hasn't been able to figure the site out. Does anyone have any experience with this?http://portal.customs.go.kr/kcsipt/portal_link.jsp?portalGoToLink=inform_5&iFrameGoToLink=/StaPt/StaInfoOfferAction_3.do?method=viewImpCargoProgInfoEach
I ordered a supplement to the value of 150 000 won online.I don't think it has reached customs as yet.I would like to place another order, via Iherb.com.Would I incur custom fees when both my packages get caught up at customs?
Quote from: matador on June 11, 2015, 05:09:57 pmI ordered a supplement to the value of 150 000 won online.I don't think it has reached customs as yet.I would like to place another order, via Iherb.com.Would I incur custom fees when both my packages get caught up at customs?According to Iherb, it's only if both packages enter customs clearance on the same day. Assuming your orders are a day apart, it's unlikely they'll arrive at the same time. Otherwise you could just wait until the first one clears customs before placing another order.
Hi, I'm looking into buying a new laptop back in the states and having my father send it to me. Is it possible to have my father, take it out the box, slap it into a package and send it to me without being slap in the face with heavy fees? Has anyone done this lately? I feel like they would just scan the package and know its a laptop.
What's the duty-free threshold?The duty-free threshold is 150,000 Korean won (usually around $130 USD) and that includes the shipping fee.Go here for the current exchange rate employed by Korea Customs:http://english.customs.go.kr/kcsweb/user.tdf?a=user.exchangerate.ExchangeRateApp&c=1001&mc=ENGLISH_INFORMATION_CUSTOMSWhat are the duty and tax rates?For the most products, 8% customs duties and 10 % value added tax (VAT). However, some goods are liable to special excise taxes and other taxes. In general, all the household goods (except automobiles, boats, luxury jewelry, second items depending on the situation) are exempt from Customs duties and taxes. In addition, pianos, refrigerators, dryers, ovens or some other household goods are exempt from Customs duties and taxes only once because there's usually only one of those items per household.However, you need to prove that you are going to live in Korea for more than two years and the goods should be brought into Korea within 6 months of your first arrival. You can't file duty-free applications on brand new products, gifts, professional goods, goods for sale and other goods that aren't household necessities.Automobiles, airplanes, boats and jewelry (worth more than 1 million won) are charged with regular duties and taxes. For all the details of Customs duty and tax rates applicable, please refer to the Duties and Taxes in Korea or Simplified Duty Rate at Simplified Clearance on the Korea Customs' web site.Besides customs duties and taxes, some items require licensing & approval procedures in other government agencies. These include food, alcohol, pets, medicine, and cars. For details, please read more on importing individual items."Electronics, books, laptops, clothes/shoes, and bagsElectronics such as cameras, tablets, smartphones, etc. are subject to 20% taxation.Books are duty free, but audio books (CDs, DVDs, etc.) are subject to 20% taxation.There is no duty on laptops, but 10% VAT on the CIF value (the price+freight+insurance fee) is charged.The duty rate on clothes and shoes is 13%, whereas it's 8% on bags.How are duties calculated?Let's suppose you ordered clothes (13% duty rate) whose value is $200 USD and the current exchange rate is 1,100 KRW = $1 USD. Let's also suppose the shipping is $10 USD.Duty fee = (value of products in KRW + shipping in KRW )*duty rateDuty fee = (200 USD * 1,100 KRW/USD + $10 USD*1,100 KRW/USD)*13% = 30,030VAT= (value of products in KRW + shipping in KRW + duty fee)*VAT rate=VAT = [200 USD*1,100 KRW/USD + $10 USD*1,100 KRW/USD + 30, 030 ]*10% = 26,103Total fees = Duty fee + VAT = 30,030 + 26,103 = 56,133 KRWHow do I pay?Online banking is the probably the easiest and fastest way, but it's also possible to pay by going to your bank or any post office.How did my friend order over 200,000 KRW worth of dietary supplements (or X good) and not get charged a dime?S/he probably ordered from a Korean company that is aware of customs laws (most, if not all, are). Hence, they probably marked the package as gift and/or deliberately marked the value of the package such that you avoid paying fees.It's also possible that the goods ordered are exempt from duties and taxes. Or maybe s/he just got lucky!More Infohttp://www.customs.go.kr/kcshome/main/content/ContentView.do?contentId=CONTENT_ID_000001318&layoutMenuNo=21023Have a specific question?Ask Korea Customs directly: http://www.customs.go.kr/kcshome/main/qna/QnaList.do?layoutMenuNo=21035