Korea

​The Korea-Australia Free Trade Agreement (KAFTA) was signed in Seoul, South Korea, on 8 April 2014.

KAFTA will enter into force when both Korea and Australia have completed their domestic legal procedures.

The full text of the KAFTA is available on the Department of Foreign Affairs and Trade website.

Entry into Force

Trade and Investment Minister Andrew Robb has announced that Australia’s Free Trade Agreement with South Korea will enter into force on 12 December 2014.

Legislation

Practice Statement, Instructions and Guidelines and Australian Customs and Border Protection Notice

The Integrated Cargo System - Claiming Preference

To claim preferential tariff rates under KAFTA, the following codes should be used in the ICS:

  • Preference Scheme Type

Type

Description of Preference Scheme

KFTA

Korea-Australia Free Trade Agreement

  • Preference Rule Types (Select the appropriate Rule Type)

Rule Type

Description of Origin Criteria

PE

Produced entirely from originating materials

PSR

Product specific rules

WO

Wholly obtained goods

​OTH

Other

​For more information, please read the following:

What you will need to support a claim for preference under KAFTA

A KAFTA Certificate of Origin completed by the exporter or producer in Korea.

Model format of KAFTA certificate of Origin.

The Certificate of Origin must contain the following Data Elements (as listed in Annex 3-C, Chapter 3 of KAFTA):

List 1-11:

  1. Issuing number
  2. Exporter, including contact details
  3. Blanket period for multiple shipments
  4. Producer, including contact details (optional)
  5. Importer, including contact details (optional)
  6. Description of good(s)
  7. Harmonized System code (six digits)
  8. Preference criterion
  9. Observations (optional)
  10. Declaration
  11. Name, signature, company or authorised body and contact details of person completing the Certificate of Origin; and date of issue.

Applying for an origin advice ruling

The Department will provide written advice, upon request, for determining whether the good originate from Korea for the purposes of claiming KAFTA preference.

Comparison Table of the Specific Provisions of Chapters 3 and 4 of KAFTA and Related Legislation, Regulations or Procedures