Mackerel [Getty Images Bank]
Mackerel [Getty Images Bank]

The government will conduct a fresh inspection of the market supply of imported frozen mackerel granted tariff quota status, and plans to revoke quota recommendations for importers that fail to meet their supply obligations — a step aimed at ensuring the tariff cut translates into lower consumer prices.

The Ministry of Oceans and Fisheries said Monday it will carry out a second joint on-site inspection of imported frozen mackerel at bonded warehouses in Busan on Tuesday, together with Busan Customs and the National Federation of Fisheries Cooperatives.

The government has applied a tariff quota to 25,000 metric tons of frozen mackerel, cutting the duty rate from 10 percent to zero through Dec. 31. Importers receiving the reduced tariff must release the goods to the market within 45 days of the tariff application date.

The inspection follows a first joint check conducted in April and focuses on whether imported mackerel is moving out of bonded warehouses and reaching the market without delay, rather than sitting in storage for extended periods.

Inspectors will cross-check import customs clearance records and bonded warehouse entry and exit filings against actual release volumes to verify compliance with supply obligations. Importers that miss the 45-day release deadline will have their tariff quota recommendations revoked and be barred from future recommendations for at least one year.

The ministry said it will continue monitoring the customs clearance and retail distribution process to ensure the tariff reduction is reflected in retail prices.

"The purpose of the system is for the tariff cut to benefit consumers and bring down the cost of everyday groceries," Oceans and Fisheries Minister Hwang Jong-woo said. "We will thoroughly inspect the customs clearance and distribution process to ensure imported mackerel reaches the market quickly."


adastra@heraldcorp.com