Korea has a number of Free Trade Agreements (FTA) with countries in the European Union. However, if you are trading goods manufactured in the EU it does not mean your products will automatically avoid paying duties when your goods are imported into Korea. A few conditions need to be met in order to apply for the tariff preferences:
1. The goods must be included in the EU Korea FTA.
2. The goods must have origin in the EU.
3. The goods must be accompanied by a Certificate of Origin.
If the exporter does not have the correct documents, including a ‘FTA Authorization Number’, the goods still can be imported with FTA tariff preference provided the value of the shipment is less than EUR 6,000. In this case, most EU free trade agreements allow for exporters themselves to issue a invoice declaration, adding a sentence claiming the goods have the origin in a EU country.