Korea's certification of origin mechanism under RCEP
RCEP stipulates 03 origin certification mechanisms equivalent to 03 forms of documentation certifying the origin of goods, generally applicable to goods using RCEP’s preferential tariffs, regardless of export markets in RCEP. Specifically:
- Certificate of Origin (C/O): issued by competent authority of exporting members (also known as the traditional origin certification mechanism)
- Self-certification/Declaration of origin by approved exporters: Only approved exporters can self-certify/declare origin on their documents of exported shipments, each RCEP member is allowed to determine the conditions under which the exporter must comply to declare origin of goods.
- Self-certification of origin by any exporter or producer: this mechanism allows any exporter or producer to self-certify/declare origin of goods on documents.
This is the origin certification mechanism that all new generation FTAs aim for. However, all RCEP members have reservations about the schedule for implementing this origin certification mechanism. In particular, Vietnam and Korea have similar reservations, only starting to implement this mechanism no later than 10 years after the date of entry into force of this Agreement, and this period can be extended for a maximum of no more than 10 years.
Source: Center for WTO and International Trade
