The tenth anniversary of the signing of the China Korea Free Trade Agreement has seen the continuous release of tariff policy dividends

On December 20, 2015, the China South Korea Free Trade Agreement officially came into effect. Over the past decade, the dividends of tariff policies have been continuously released, effectively promoting the deep integration of China South Korea economy and trade. According to statistics from Fuzhou Customs, in the past decade, the value of goods imported from South Korea by Fuzhou Customs District has been about 12.9 billion yuan, with a tax reduction of about 300 million yuan, bringing real benefits to enterprises. A total of 64000 certificates of origin were issued under the China Korea Free Trade Agreement, with an export visa value of approximately 38.3 billion yuan. In the first 11 months of this year, more than 6000 certificates of origin for the China Korea Free Trade Agreement were issued, with a visa amount of 5.72 billion yuan, a year-on-year increase of 57.2%, leading the country in terms of growth rate.

There is a great demand for lithium-ion batteries in South Korea, but entering the Korean market originally required paying an 8% tariff. The 'targeted' policy guidance from the customs was very timely, actively interpreting the tariff preferential policies of the China Korea Free Trade Agreement and guiding us to make full use of them. This has effectively reduced our export costs, "said Lu Ping, the head of the global customs department of CATL New Energy Technology Co., Ltd. Enterprises like Ningde Times New Energy Technology Co., Ltd., which leverage the China Korea Free Trade Agreement to explore new blue oceans, are not uncommon among enterprises in Fujian Province. From high-end manufacturing of new energy to traditional advantageous industries such as motors and aquatic products, the tariff reductions and trade facilitation brought about by the China Korea Free Trade Agreement are being translated into tangible orders and market share.

In 2025, we will continue to expand our market in South Korea. With the guidance and assistance of Fuzhou Customs, we will apply for the certificate of origin, which is a 'paper gold'. This will significantly reduce the import tariffs on our motors exported to South Korea, not only effectively reducing our operating costs, but also further enhancing our market competitiveness, expanding the market share of Mindong Electric overseas, and establishing the brand of Mindong Electric. While the trade volume will increase significantly in 2025, it will also give us more confidence in the market in 2026, "said Huang Xiuchun, the customs officer of Anbo Electric (Ningde) Co., Ltd.

The China Korea Free Trade Agreement has not only opened up export markets, but also opened up opportunities for import enterprises. The agreement allows high-end components such as lithium battery separators from South Korea to enter China at a lower tax rate, reducing our procurement costs and thus improving the level of the consumer battery industry chain, "said Shi Yuan, the customs officer of Ningde New Energy Technology Co., Ltd.

In order to promote the high-quality development of characteristic industries in Fuzhou Customs District, Fuzhou Customs conscientiously implements the "four grassroots" system, makes good use of policies such as "customs chief delivery policy", and conducts one-on-one policy interpretation of preferential origin management measures and rules for enterprises on the front line. It guides enterprises to fully apply the "China Customs Preferential Origin Service Platform" and select the most suitable preferential trade agreement. In addition, Fuzhou Customs is promoting the construction of a smart customs and vigorously promoting the convenience measures of "smart audit+self-service printing", allowing enterprises to change from "running once" to "zero running", and can self print without leaving their homes, saving more human resources and time costs for enterprises.

With the implementation of the free trade agreement, cooperation between China and South Korea is expanding from traditional manufacturing to high value-added fields, and the economic and trade networks between the two countries will continue to expand and become closer. Fuzhou Customs will continue to lead the construction of smart customs and the "Smart Customs Strong Country" action, continuously optimize the port business environment, and promote the upgrading of the benefits of the China South Korea Free Trade Agreement from "fully enjoying" to "quickly enjoying and enjoying" through more precise policy promotion and targeted guidance. We will fully support enterprises to enhance their origin management capabilities and help more "Made in Fujian" companies take advantage of the free trade agreement to win opportunities in the international market. (Chu Yihui, Zhang Lei/Wen)