South Korea has a straightforward process when it comes to importing goods into the country. The start of the process is the conclusion of a contract, and the culmination is the import payments. The import payments encompass a large number of activities, including the conclusion of import contracts, establishing import permission, clearance of customs regulations, and actual payment. There are other steps that are usually optional, on which the nature of the actual goods and the kind of transaction that was carried out has a direct consequence.

Imported goods must enter through one of the established channels: the ports of entry. The duties that are then calculated by the customs officials need to be disbursed, and the delivery is then carried out. There are occasions when the item that needs to be imported is deemed to be an import restricted item, at this time the import authorization is strictly required. As per the Mitt’s Export and Import Notice, the restricted item must have an import recommendation, which can be obtained from a competent authority or association. The organization must be in accordance with the regulations of import announcements and must conform to the special notice outlined by the Ministry of Trade and Industry. However, freely importable items do not need any recommendation.

An import license is mandatory in South Korea, and can be obtained from the Ministry of Trade and Industry. It is also possible to appoint the president of a foreign bank as a delegate, who can issue import licenses. This is applicable except in the case of counter-trade.

South Korean foreign trade is subject to a great deal of legislation. One of these is the External Trade Act, which specifies the procedure for the export and import of goods. There is also the Foreign Exchange Management Act which related to foreign exchange matters, including matters such as the settlement of export or import payments. And lastly there is the Customs act, which deals mainly with customs clearance, among other things.

Probably not top of everybody’s must see travel destinations, but perhaps it should be. South Korea is a fascinating country with plenty to offer. Here are five reasons to go.

Amusement Parks: It may not be the first thing you think of when you think of South Korea but the country is big on amusement parks and there are some great ones to choose from – making South Korea a great place for a holiday with the kids. One of the best is Everland, just outside Seoul where you can find some of the most exciting rides around.

Shopping: Shopping in Korea is an amazing experience. In a city like Seoul you are able to go shopping at any time of the day and night. Also, the variety of shopping centres, markets, shopping areas and department stores is incredible and caters for every taste, need or pocket. Often shopping in Korea is part of a family day out, as many shopping centres are created near attractions such as amusement parks, aquariums and places of interest for tourists.

Green Tea: It may be all the rage in London and New York with fashionista types but South Korea is the real home of green tea and you can get some delicious varieties here. It’s great for your health and pretty cheap too!

Experiencing Korean culture as a whole – it is worth visiting South Korea, just for the opportunity to experience a culture that is so different from our western cultures. Korea, even if it is a small country, has its unique culture, where traditions and innovations, old and new coexist.

Korean food – even though Korean food has some elements in common with other Asian cuisines, such as the use of soy and soy products (like tofu, soy sauce etc.), some spices and rice, it is entirely unique. There are ingredients, combinations of flavours and recipes that you will not find anywhere else, so, if you are a food lover and interested in experiencing new flavours it is worth visiting Korea. There are Korean restaurants around the world, but you will never find the same flavours and variety of Korean cuisine as in Korea itself.