S. Korea to temporarily lift import duties on corn to stabilize prices
Apr 7, 2021
South Korea plans to temporarily remove tariffs on some imported grains including corn in an effort to help rein in rising food prices, the finance minister said Wednesday. The country plans to import edible corn and some grains without tariffs until the end of this year under the quota tariff system, according to Finance Minister Hong Nam-ki. Currently, duties of 3 percent are levied on imported corn. "There is a limited chance that annual inflation will exceed (the central bank's target