Tax Office Chief: "Strict Oversight to Ensure Tariff Cut Benefits Reach Consumers"

Cho Man-hee, Deputy Minister for Tax and Customs at the Ministry of Finance and Economy, emphasized, "We will manage the process thoroughly to ensure that the benefits of tariff cuts are fully passed on to consumers."

During a meeting with industry representatives at a CJ CheilJedang meat processing plant in Jincheon, North Chungcheong Province, today (June 17), Cho stated, "It is undesirable for the purpose of the tariff-rate quota policy to be undermined by distortions in the distribution process or through illicit practices."

Prior to the meeting, Cho toured the plant's raw material warehouse and manufacturing facilities to inspect the release of goods under the tariff-rate quota from bonded areas, their arrival at the factory, input into the manufacturing process, and the overall impact on prices.

The government is currently applying a tariff-rate quota to imported frozen pork to stabilize prices.

For the period from May to December of this year, tariffs on 12,000 tons of imports have been reduced from the current 25% to 0%.

In February, the government also improved the system through its "Measures for Tariff-Rate Quota Inspection and Institutional Improvement" to ensure that tariff cuts lead to lower consumer prices without illicit practices, such as intentional delays during customs clearance and distribution.

The Ministry of Finance and Economy stated, "We will continue to cooperate closely with the Korea Customs Service and the Ministry of Agriculture, Food and Rural Affairs to monitor items subject to tariff-rate quotas and conduct on-site inspections," adding, "We will actively manage the situation by preparing additional measures if necessary."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.