Import Barrier on Used Products to be LiftedAll import barriers for used products will be lifted from January 1, 1999. The Ministry of Commerce, Industry, and Energy (MOCIE) announced on December 31 that it will lift import barriers on used products including blue jeans and cars.
40 items related to the auto industry including used cars, motor cycles, gear boxes, and mufflers will now be imported. Used ships which are older than 20 years or whose capacity is under 1,000 tons can be imported freely.
This measure was influenced by an indication that import barriers for used products violates agreements of the World Trade Organization(WTO).
A source at MOCIE predicts that venture businesses and small-capital businesses will be vitalized through the use of cheaper, secondhand machines and unnecessary trade friction will be mitigated.
He explained, 'The side effects of this measure will not be that serious because equipment used in ship building and cars, and parts related to the auto industry have world-class competitive power. Additionally, the scale of used products imported reached only 0.1 percent.'
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