2024 Seminar for Customs Regulatory Discussions hosted by Lee & Ko

Amidst keen interest and participation, the Customs Practice Group of Lee & Ko hosted the ‘2024 Seminar for Customs Regulatory Discussions’ on Friday, 29th March, 2024.

Miscellaneous domestic and global corporate clients involved in the export, import, and trade sectors attended the seminar. The customs experts of Lee & Ko were met with an array of questions, comments, discussions raised by the participants on a broad range of topic, including 2024 customs/trade law updates, preferential tariff system, Korea Customs Service (“KCS”) trend/practice.

Among the tripartite seminar, the first session covered ‘Noteworthy Amendments to Customs, Trade, Foreign Exchange laws’, presented by Marvin. Marvin, with working experience a licensed customs broker before being admitted to the Korean Bar and joining Lee & Ko, is a up-and-coming customs attorney. He covered the complex web of customs related laws and regulations with ease, making ample use of key cases and easy-to-understand explanations.

The second session covered ‘Utilization & Fresh Issues of the Preferential Tariff System(Quota, FTA, etc.)’, presented by JW Cho. JW is a partner, with expertise in the customs profession thanks to multiple years of service in KCS(Seoul, Incheon Customs Offices) and Lee & Ko Customs Practice Group. Based on his experience within the public and private sectors, he elaborated on practical checkpoints (and, not to speak of, red flags) which should be noted for export and import business enterprises to ameliorate their trade compliance scheme and reduce customs-related concerns.

The third and final session covered ‘Recent Korea Customs Service’s administrative trends and implications’, jointly presented by Seung-Hak Shin and Young-Gee Park. Prior to joining Lee & Ko as an expert customs consultant, Mr. Shin had accumulated much practical knowledge working in KCS and multiple regional customs offices. Drawing from his knowledge, he shared highly practical points on the recent customs audit trend. As the lead partner of Lee & Ko Customs Practice Group and a former senior ranking officer in KCS, Mr. Park delineated essential parts of the recent customs criminal investigation trend for multinational & Korean businesses.

At the end of the line, the seminar wrapped up after a Q&A session with the Lee & Ko speakers and participants.

Young-Gee Park, the lead partner of Lee & Ko Customs Practice Group, commented that Lee & Ko “sincerely wishes that this seminar would be a beneficial reference point for customs and trade operations, for both domestic and global corporations”, and JW Cho voiced thoughts “to provide continuous updates for clients doing business in Korea, considering the ever-changing landscape of the Korean customs/FX/trade areas and pertinent KCS trends”.