Form Y (China-South Korea)

FORM Y is a certificate of origin under the China-Korea Free Trade Agreement (China-Korea FTA), officially known as the 'Certificate of Origin under the China-Korea Free Trade Agreement'. This certificate is used to prove that goods originate from China or Korea, and the importer can use it to enjoy the preferential tariff rate under the agreement (usually lower than the MFN rate, and some products may even be duty-free). Usage scenarios: Goods exported from China to Korea, or goods exported from Korea to China, must be issued by an authorized body of the exporting party (in China, the Customs or CCPIT; in Korea, the Korea Customs Service or authorized bodies). Notes: 1. The certificate must be issued before or at the time of export; in special cases, it can be issued retroactively; 2. The origin criteria, direct transport rules, and other information must be filled in correctly, otherwise it may be rejected by the importer; 3. Unlike FORM A (GSP certificate of origin), FORM Y is only applicable between China and Korea, and the tariff preference is based on a bilateral agreement rather than unilateral granting; 4. Compared with an ordinary certificate of origin (CO), FORM Y can bring actual tariff reductions, but specific origin rules must be met. Differences: FORM Y is for the China-Korea FTA, while FORM E is for China-ASEAN, FORM F is for China-Chile, etc. Foreign trade practitioners should ensure that products comply with the origin rules and declare accurately to avoid verification requests or penalties.