|
|
|
|
|
Newsletter | November 2015, Issue 3
|
|
|
|
|
|
|
INTERNATIONAL TRADE & CUSTOMS
|
|
|
|
Ministry of Industry, Trade and Energy Amends Regulations on Export Control of Strategic Goods
|
|
|
|
On July 20, 2015, the Ministry of Industry, Trade and Energy ("MOTIE") amended the Regulations on Export Control of Strategic Goods ("Regulations").
|
|
|
|
Main points of the amendments include:
|
|
|
|
1. Who may apply for export license is newly defined as follows1 :
|
|
|
|
|
One who has ownership in Strategic Goods to be exported, and directly controls and leads the export thereof;
|
|
|
One who is comprehensively authorized to export Strategic Goods by a foreign-resident who has ownership in the Strategic Goods, and directly controls and leads the export of thereof;
|
|
|
One who exports contract-manufactured Strategic Goods or Strategic Goods for contract-manufacturing.
|
|
|
|
|
2. Exemptions from the export license requirement are expanded2 .
|
|
|
|
|
|
If dual-use goods controlled under the Wassenaar Arrangement, and whose total price is USD 8,000 or less, are exported, the export license is exempted unless the goods are:
| - |
Sensitive or super-sensitive items or software, subject to the Wassenaar Arrangement; or
|
| - |
Controlled under other multinational export control regimes.
|
|
|
|
If Strategic Goods are exported for presentation in trade fairs, sample displays, or exhibitions, on the condition that the goods are returned to Korea or destroyed in the country of import within one year, the export license is exempted, subject to some exceptions.
|
|
|
If dual-use goods are exported for the purpose of examination, testing, and repair, on the condition that the goods are returned to Korea or destroyed in the country of import within one year, the export license is exempted, subject to some exceptions.
|
|
|
|
|
|
3.
|
Under the amendment, transfer of Strategic Technology to the ex-pat employees and executives who have an employment agreement with the Korean entity is exempted from the export license requirement3 .
|
|
|
|
|
MOTIE revised the list of the National Core Technologies whose export is controlled under the Act on Prevention of Leakage and Protection of Industrial Technology. On September 7, 2015, MOTIE then published the revision, listing a total of 47 categories of technologies4.
|
|
|
|
|
|
|
|
| 1 |
|
See Article 18, Paragraph 2.
|
|
| 2 |
|
See Article 26, Paragraph 1.
|
|
| 3 |
|
See Article 26, Paragraph 3.
|
|
| 4 |
|
Includes the following : 11 in electric & electronic; 7 in automobile; 6 in steel; 7 in shipbuilding; 3 in nuclear power; 8 in telecom; 2 in aerospace; and 3 in biotechnology.
|
|
|
|
|
|
Back to Main Page
|
|
|
|
|
|
If you have any questions regarding this article, please contact below:
|
|
|
|
|
|
|
|
For more information, please visit our website:
|
|
|
|
|
|
|
|