China Will Implement RCEP Agreement Tax Rate To South Korea From February 1

According to the office of the tariff Committee of the State Council, the regional comprehensive economic partnership agreement (RCEP) will enter into force for South Korea on February 1, 2022. In order to strictly fulfill the commitments of the agreement and actively promote the full implementation of RCEP, the Tariff Commission of the State Council has issued an announcement to implement the first year tariff rate of some imported goods originating in South Korea from February 1, 2022. According to the provisions of the agreement, the subsequent annual tax rate will be implemented from January 1 of that year.