The economic connection between South Korea and Canada is strong with bilateral trade in goods and services totalling over $20 billion per year. Major exports from Canada to South Korea include wood products, mineral fuels, and machinery. Meanwhile, South Korea exports vehicles, machinery, and electronics to Canada.
Additionally, both countries have have the Canada-Korea Free Trade Agreement. The CKFTA makes it more cost-effective for Canadian and Korean businesses to trade with each other. Among the main benefits is duty free import for qualifying goods. Finding the right shipping solution necessary for businesses to buy and sell their goods between Canada and South Korea.
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To compare shipping rates between South Korea and Canada, you can consider the following carriers:
The top services to consider when shipping from South Korea include:
Companies can choose between air cargo and sea freight. Cargo that ships via air usually deliver within around 1 week. Ocean cargo averages between 1 to 3 months door to door.
Less than container load - LCL - is a service that shares space in a container with different consignment. It requires and additional transit time to account for loading and de-consolidation.
Full container loads - FCL - can ship either via a 20 or 40 foot container.
Ocean cargo's many surcharges can add significant costs for smaller cargo shipments. Consignments up to around 200 kilograms often have a lower price via air versus ocean.
An declaration submission to the Korean Customs Service is necessary. Information includes the description of the goods, HS Code, the value of the goods, and consignee information.
Importers must both have an import number and register in CARM. This CBSA portal enables importers to assign a customs broker and requires a surety bond (or deposit). How to Register in CARM.
Download: Accompanying PDF
All imports to Canada are subject to import duty and taxes under the Most Favour Nation rate of duty. Goods that qualify for preferential duty free import under CKFTA require a certificate of origin (see below).
One of the most important aspects of insurance actually has to do with packaging. Refusal of most Insurance claims is due to insufficient packaging. Be sure you document the packaging process and able to prove sufficient packaging in the event of a claim. Insurance is available via most carriers or via third parties.
The Korean Free Trade Agreement provides duty free import of Korean origin goods. It is important to note that the goods must be made in Korea. Just shipping from Korea does not qualify the being of Korean Origin.
The Korean Free Trade Agreement provides duty free import
Jet Worldwide provides Asian, Canadian and global logistics. Our support facilitates the international and Canadian movement of goods.
We are happy to help with your shipping between South Korea and Canada. Provide information regarding the type of goods, shipping volume, and other factors.