The South Korean Ministry of Finance stated that it has decided to waive the import tariffs on chemical raw materials, thereby curbing inflationary pressures caused by the cost of imports.
Since August 5th, the import duty of high pressure materials and PP, ie 4%, has been waived. In addition, 3% import tariffs on low-pressure materials are also exempted. In total, South Korea eliminated 41 tariffs to protect the domestic economy from the pressure of rising costs. Tariff cancellation will be implemented until the end of this year. In July, annual consumer price inflation in South Korea reached 5.9%, the highest in 10 years.
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Spray Chrome Machine
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