HS CODE
CLASSIFICATION SERVICE
What is HS Classification?
HS Classification is classifying all exporting and importing goods trading around the world into a certain heading according to the Harmonized System(HS) developed by the World Customs Organization(WCO). HS(Harmonized Commodity Description and Coding System) code is an item classification code assigned to exporting and importing goods based on International Convention on the Harmonized System. The 6-digit code is an international code used worldwide. More subdivided 7-digit to 10-digit code can be determined by each country at its discretion. Korea uses a 10-digit code, named HSK(HS of Korea).
HS CODE CLASSIFICATION
Importance of Classification
- QWhy is HS Classification Important?
- The amount of customs tax for imported goods depends on the tax rate of each HS-code. Hence, the classification of HS code directly affects the amount of customs tax payment. In addition, since HS classification is closely related to the rule of origin of each Free Trade Agreements, erroneous item classification can also affect the outcome of the country of origin determination. Therefore, an accurate and consistent HS code classification should be carried out.
