In the Full Text of RCEP, Korea's tariff commitments are specified in Chapter 2 - Trade in goods and Annex I - Schedule of Tariff commitments of Korea for RCEP members. Specifically:

-    Chapter 2 – Trade in goods: Includes specific treatment principles for goods exchanged in the RCEP area, of which the most important one is tariff commitments (principles of tariff reduction, national treatment obligation, etc.) and commitments on non-tariff measures (internal taxes and fees, import and export restraint measures, import licensing, etc.);

-    Annex I - Schedule of Tariff commitments of Korea for RCEP members: Includes 05 separate tariff reduction commitment schedules for each member/group of members in RCEP, of which 01 Schedule is for ASEAN and Tariff Schedules for Australia, Japan, New Zealand, China.

Besides separate Tariff Commitment Schedules for each partner/partner group, Korea’s Annex I also has an additional Appendix regulating a list of goods which are subject to tariff differentials and must comply with additional rules of origin (in addition to the general rules of origin). 

Korea’s Appendix sets out a list (about 100 lines of goods subject to tariff differentials applying "Additional Rules of Origin") and period for applying "Additional Rules of Origin".  

Principles for determining preferential tariff rate

When goods from RCEP members are imported into Korea, the preferential tariff rate applied to a specific imported shipment will be determined as follows: 

(i)    For goods included in the Appendix of Korea’s Annex I

Depending on the goods' ability to meet specific requirements of additional rules of origin (ROO), preferential tariff rates for imported goods will be determined according to:

-    The preferential tariffs that Korea offers to exporting countries in RCEP, or

-    The preferential tariffs that Korea offers to RCEP members contributing the highest value of originating materials used in the production of those goods.

In both cases, the exporter must have enough documents to prove that their goods fully meet the specific requirements of origin to be eligible for preferential tariffs in the provisions of each case.

(ii)    For goods not included in the Appendix of Korea’s Annex I 

Preferential tariff rates are determined in accordance with the Preferential Tariff Schedule of Korea for exporting countries in RCEP (according to common ROO under the RCEP)

For both (i) and (ii), if the Korean importers do not have sufficient documents proving their goods to be eligible for preferential tariffs according to the provisions of each case, they can still request to be granted RCEP’s preferential tariffs for originating goods at one of the following two tariff rates:

-    The highest tariff rate among the preferential tariffs of Korea for exporting countries in RCEP that contribute originating materials in the production of those goods (Korean importers must prove the sources contributing these materials); or  

-    The highest tariff rate among the preferential tariff rates of Korea for RCEP countries.

Source: Center for WTO and International Trade

Documents are attached below:

• Tariff Differentials of Korea
• Schedules of Tariff Commitments of Korea for ASEAN
• Chapter 2 RCEP

• Korea's additional rules of origin under RCEP
• Korea's certification of origin mechanism under RCEP
• Korea’s Commitment on opening service market under RCEP
• Opportunities from RCEP for exporting Vietnamese goods to the Korean market