Exemption of customs duty and VAT on foreigner-invested capital for domestic energy company

Lee & Ko initiated a request for a ruling from KCS on exemption of duty on certain goods imported into Korea.  This case required analysis and application of the laws relating to capital goods, and at the same time satisfy the legality of duty exemption from the customs perspective.  Lee & Ko was able to obtain a favorable interpretation from KCS, and the total exemption amount was approximately 150 million Korean Won.