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Yonhap SEOUL, Jan. 22, South Korea's Ministry of Agriculture, Foreculture, Livestock and Food said on the 22nd, the government published in the official gazette the same day a revised tariff reduction form, the import of rice tariff rate was finally determined to 513 percent, the tariff quota part still applies to the 5 percent tax rate.
of the 408,700 tonnes of rice at the applicable tariff quota rate, 388,700 tonnes will be allocated to five countries in China, the United States, Vietnam, Thailand and Australia in accordance with actual imports for 2015-2017.
specifically, China has the largest quota of 157.195 million tonnes, followed by the United States (132.304 million tonnes), Vietnam (551.12 million tonnes), Thailand (284.94 million tonnes) and Australia (155.95 million tonnes).
Korea has established import tariffs on all imported agricultural products except rice since it joined the World Trade Organization in 1995 and twice postponed the finalization of rice import tariffs, applying a low tariff of 5 per cent only to certain quotas.
September 2014, South Korea submitted to the WTO a revised tariff reduction schedule that set the rice tariff rate at 513%.
, South Korea held five years of negotiations with the five countries that challenged it, and eventually decided to implement the original plan.
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