Open to all via Korea Customs Service website from Tuesday; top scorers in individual and group categories to receive citations and prize money
A competition to find the top experts in tariff classification — the foundation of all import and export procedures — is set to take place next month.
The Korea Customs Service's Customs Valuation and Classification Institute announced Tuesday that it will hold the 27th Tariff Classification Competition on Sept. 16.
Tariff classification is the process of assigning product codes to imported and exported goods under the commodity classification system established by the World Customs Organization (WCO). Those codes determine tariff rates and import-export requirements.
Now in its 27th year, the competition is held annually to raise awareness and understanding of tariff classification among Korea Customs Service employees, those working in customs-related fields and the general public.
The importance of accurate tariff classification has grown as new industries and advanced products continue to emerge and the global trade environment shifts rapidly. Classification underpins tariff rates and import-export requirements.
The competition will be conducted remotely online through the Korea Customs Service website. Participants must answer 20 multiple-choice questions covering a broad range of tariff classification knowledge within a 40-minute time limit and submit their answers.
Top scorers in both the individual and group categories will receive citations — including the Commissioner of Korea Customs Service Award — along with prize money. Winners will be announced Sept. 28.
Anyone interested in tariff classification is eligible to participate. Registration is open from Tuesday through Sept. 15 on the Korea Customs Service website. Further details are available on the Korea Customs Service website or the Customs Valuation and Classification Institute website.
kwonhl@heraldcorp.com
