Understanding HSN Codes in South Korea : A Comprehensive Guide

Introduction

The Harmonized System of Nomenclature (HSN) Codes, established by the World Customs Organization (WCO), are a universal language for the classification of goods in international trade. In South Korea, these codes are integral to managing trade operations, facilitating customs procedures, and collecting accurate trade statistics.

The implementation of HSN Codes in South Korea aligns its trade practices with international standards, contributing to the country's significant presence in global markets.

South Korea adopts the HSN Codes within its customs framework, referred to locally as '통합 관세 코드' (Tonghab Gwanse Code), which ensures that goods are classified accurately for efficient processing and compliance with trade regulations.

As a key player in global commerce, South Korea's use of HSN Codes underscores its commitment to streamlined and harmonized trade practices, which is vital for its extensive export-oriented economy.

The Korea Customs Service utilizes an expanded HSN Code system, which includes additional digits for more precise classification, crucial for detailed product categorization and tariff application.

The HSN Code structure in South Korea is composed of sections, chapters, headings, and subheadings, following the international classification system for a systematic approach to goods categorization.

Starting with broad categories of goods in chapters, the system details further into headings and subheadings, allowing for the precise classification of a diverse range of products.

For instance, South Korea’s export of semiconductor devices can be classified under HS code 8542:

Chapter (85): Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles.

Heading (42): Electronic integrated circuits and microassemblies.

HSN Codes are essential for South Korea’s trade, enabling efficient customs clearance, accurate tariff assessments, and the collection of trade data that informs economic policy and industry strategies.

In South Korea, HSN Code-based trade data is used by businesses and policymakers for market research and competitive intelligence. This data is crucial for understanding industry trends and making informed economic decisions.

Volza provides a comprehensive HSN code list and trade data for South Korea, including tariff rates and detailed regulatory information, which is invaluable for companies engaged in South Korean trade.