HS 7207.11Metals · South Korea

HS Code for Steel Billet - Import into South Korea

Q: Which Incoterm is best for shipping metals to South Korea?

Most importers into South Korea prefer CIF or CFR for sea freight so the seller arranges main-carriage transport, while retaining control of destination clearance. DDP shifts import duty and VAT to the seller - attractive to buyers but often priced with a risk premium. Compare all 11 Incoterms with our Landed Cost by HS & Country tool.

Duty and tax snapshot for importing metals (HS 7207.11) into South Korea. Typical MFN duty ~5%, VAT 10% on CIF + duty. Decision-support only - confirm the 10-digit line and preferential status with your broker.

Typical duty

VAT

10%

Total taxes / CIF

15.5%

Worked landed-cost example

USD 120,000 FOB parcel of metals (HS 7207.11) shipped to South Korea.

FOB valueUSD 120,000

Origin chargesUSD 1,800

FreightUSD 9,600

InsuranceUSD 600

CIFUSD 132,000

Import duty @ 5%USD 6,600

VAT @ 10%USD 13,860

Destination inlandUSD 2,400

Landed cost ≈ USD 154,860

Run your own numbers in the Landed Cost by HS & Country tool.

Sample HS codes

Code	Description
7207.11	Semi-finished, rectangular cross-section, C < 0.25%
7207.12	Other rectangular semis, C < 0.25%
7207.19	Other, non-rectangular semis
7207.20	Semi-finished, C >= 0.25%

South Korea duty regime

MFN and preferential tariffs under KORUS FTA (USA), Korea-EU FTA, RCEP, Korea-UK FTA, Korea-ASEAN, Korea-India CEPA and Korea-China FTA.

Customs notes

· HSK: 10-digit Korean tariff code (HS 6 + 4 national digits) managed by Korea Customs Service (KCS).
· UNI-PASS is the electronic clearance system.
· Individual Consumption Tax applies to select goods (autos, jewellery, tobacco, alcohol) before VAT.

Frequently asked questions

What is the typical import duty on metals (HS 7207.11) into South Korea?

South Korea applies an MFN duty of about 5% on HS chapter 7207.11 at the 6-digit line. National tariff schedules add 2–4 further digits, so the exact rate can shift once you confirm the 8- or 10-digit code. Preferential rates under FTAs (MFN and preferential tariffs under KORUS FTA (USA), Korea-EU FTA, RCEP, Korea-UK FTA, Korea-ASEAN, Korea-India CEPA and Korea-China FTA) may reduce this to 0% for qualifying origins.

How is VAT calculated on imports of metals in South Korea?

South Korea charges VAT at 10% on the CIF value plus duty. 10% VAT on CIF + duty + ICT

What is the landed cost of a USD 120,000 FOB shipment of metals into South Korea?

On a USD 120,000 FOB parcel with ~8% freight and 0.5% insurance, CIF works out to USD 132,000. Applying 5% duty and 10% VAT brings total taxes to about USD 20,460 (~15.5% of CIF). Landed at buyer's warehouse ≈ USD 154,860.

Which HS code should I use for metals in South Korea?

Start with the 6-digit international HS heading - for example 7207.11 (Semi-finished, rectangular cross-section, C < 0.25%). South Korea customs then requires the full national code (8- to 10-digit national tariff line). Confirm the exact line with your licensed customs broker before filing.

Which Incoterm is best for shipping metals to South Korea?

Most importers into South Korea prefer CIF or CFR for sea freight so the seller arranges main-carriage transport, while retaining control of destination clearance. DDP shifts import duty and VAT to the seller - attractive to buyers but often priced with a risk premium. Compare all 11 Incoterms with our Landed Cost by HS & Country tool.

What documents does South Korea customs need to clear HS 7207.11?

HSK: 10-digit Korean tariff code (HS 6 + 4 national digits) managed by Korea Customs Service (KCS). Regulated commodities may also require a health certificate, phytosanitary certificate or import licence depending on the exact HS line.