 |
| ▲ A South Korea-Vietnam business consultation event takes place in Hanoi on June 22, 2023, on the occasion of South Korean President Yoon Suk Yeol's state visit to the Southeast Asian nation, in this photo provided by the Korea Trade-Investment Promotion Agency, the event's host. (PHOTO NOT FOR SALE) (Yonhap) |
Vietnam-customs
Certificates of origin to go paperless for S. Korean exports to Vietnam
SEOUL, June 23 (Yonhap) -- South Korean companies will no longer be required to submit paper certificates of origin for exports to Vietnam starting next month, the customs agency said Friday, as the two countries agreed to adopt an electronic data exchange system.
The move came after South Korea and Vietnam agreed to launch the Electronic Origin Data Exchange System next month, a real-time system that can exchange certificates online, according to the Korea Customs Service.
Previously, South Korean companies were required to submit paper certificates of origin in order to receive benefits under the free trade agreements with Vietnam and the Association of Southeast Asian Nations.
The customs agency said the latest update will help expedite clearance procedures and cut logistics costs.
South Korea and Vietnam also agreed to continue making joint efforts to crack down on illegal products, including drugs, and open up a communication channel to promptly address customs-related issues, it added.
(END)
(C) Yonhap News Agency. All Rights Reserved
