Daeryun held seminar on US tariff refund and trade risk response

Opened on the 7th in collaboration with KOFA
Presentations by customs experts and lawyers
“Opening a path for substantial refunds for importers”

The U.S. Customs and Border Protection (CBP) recently officially launched the online Customs Refund Portal (CAPE), and with the refund process worth about KRW 244 trillion (USD 166 billion) in full swing, a webinar will be held to diagnose changes in the global trade environment and strengthen the practical response of foreign companies.

Daeryun Law Firm announced on the 4th that it will hold a 'Webinar on U.S. Tariff Refund and Trade Risk Response for Companies' at 3 p.m. on the 7th in collaboration with the Korea Foreign Companies Association (KOFA).

The event was planned to go beyond providing simple guidance on the refund application process and to support the establishment of preemptive governance in preparation for complex legal and contractual issues that may arise after refunds and strong trade pressure from the United States. At the event, Daeryun experts with outstanding expertise in customs and global corporate legal affairs will participate as speakers.

In the first part of the event, which is divided into two sessions, Myeong Jae-ho, a customs expert, will give a lecture on the topic of ‘US IEEPA tariff refund system and latest practical trends.’ Commissioner Myeong is a veteran who has overseen trade review and FTA (Free Trade Agreement) consulting work at major organizations and companies such as Hyundai Express and Korea Origin Information Service. Based on his solid network with related organizations such as the Korea Customs Service, he plans to present various administrative difficulties that companies may experience during the refund process and strategies to respond to customs screening.

In Part 2, U.S. attorney Dong-Hoo Son will present on the topic ‘Issues after refund: Official importer structure, attribution of refund, and subsequent trade risks.’ Attorney Son is considered an investment and corporate legal expert who has successfully completed numerous cross-border projects, including advising global pharmaceutical companies on their entry into the U.S. market.

In this lecture, he is expected to explain that the opening of CBP's online portal is a practical follow-up to the unconstitutional decision made by the U.S. Federal Court last February, and to analyze and present specific scenarios that foreign companies will face. We mainly look at sensitive issues such as △the phased application scope of the CBP CAPE refund system, △response to disputes surrounding the settlement of refunds between headquarters and corporations, and △follow-up response plans for cases excluding CAPE application.

This event can be attended by any executives from foreign companies, as well as managers from related departments such as HR (human resources), legal affairs, finance, purchasing, SCM (supply chain management), and logistics. Applications for attendance and confirmation of detailed information can be made through the Daeryun Law Firm website.

Kim Kook-il, CEO of Daeryun Management, said, “With the launch of CBP’s portal, a path has been opened for importers who paid the so-called Trump tariffs to receive a substantial refund. However, the essence that companies should pay attention to is not simply whether or not to receive a refund, but to clearly establish who the refund legally belongs to and to ensure logical consistency of trade risks that will develop in the future.”

Reporter Jinryong Kim (kim.jinryong@mk.co.kr)

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Daeryun holds seminar on US tariff refund and trade risk response (link)