Leather Wallet Import Duty & Landed Cost: China to South Korea
Full 2026 tariff breakdown, customs duty calculations, and compliance alerts for importing into South Korea.
2026 Tariff & Cost Breakdown for Importing Leather Wallet
The total cost of importing a Leather Wallet from China to South Korea includes a 10% duty and 10% VAT, calculated on the CIF (Cost, Insurance, and Freight) value in USD. This means that if the CIF value is $100, the duty would be $10 and the VAT would be $10, resulting in a total cost of $120.
Cost Breakdown
| Component | Rate | Amount |
|---|---|---|
| Product Value | — | EUR 866.00 |
| Shipping | — | EUR 173.17 |
| Insurance | — | EUR 0.00 |
| CIF Value | — | EUR 1039.17 |
| Customs Duty | 10% | EUR 103.92 |
| VAT/GST | 10% | EUR 114.31 |
| Total Landed Cost | — | EUR 1257.40 |
HS Code Classification for Leather Wallet
Primary HS Code: 4202.310000 — What It Covers
The primary HS code for a Leather Wallet is 4202.310000, which covers wallets and purses made of leather.
Why Misclassification Carries Risk in South Korea
Misclassifying a Leather Wallet under the wrong HS code can result in fines and potential confiscation of goods, as the Korea Customs Service strictly enforces HS code accuracy.
Step-by-Step Guide: Importing Leather Wallet from China to South Korea
Step 1: Verify Your HS Code & Product Description
Verify the HS code and product description of the Leather Wallet to ensure accuracy and compliance with Korea Customs Service regulations.
Step 2: Gather Required Import Documents
Gather all required import documents, including a Commercial Invoice, Certificate of Origin, and Packing List, to facilitate smooth customs clearance.
Commercial Invoice Requirements
A Commercial Invoice must include a detailed description of the goods, including the type of leather used in the wallet, to comply with Korea Customs Service requirements.
Certificate of Origin
A Certificate of Origin is required to verify the country of origin and take advantage of preferential tariff programs, such as the China-South Korea FTA.
Packing List & Shipping Documents
A Packing List and shipping documents, such as a Bill of Lading, are necessary for customs clearance and to ensure the smooth transportation of the Leather Wallet.
Step 3: Calculate Your Landed Cost
Calculate the landed cost of the Leather Wallet using the formula: CIF + Duty (10%) + VAT (10%) = Total, in USD, to determine the total cost of importing the goods.
Step 4: Submit to South Korea Customs Authority
Submit the required documents and information to the Korea Customs Service for customs clearance and verification.
Step 5: Pay Duties & Clear Goods
Pay the calculated duties and clear the goods through customs to complete the import process and take delivery of the Leather Wallet.
How to Legally Reduce Duty on Leather Wallet Imports into South Korea
Applicable Free Trade Agreements in 2026
The China-South Korea FTA reduces or eliminates tariffs on certain goods, including leather products, depending on the specific terms of the agreement, allowing importers to reduce their duty liability.
Duty Deferral Options: Bonded Warehouses & FTZs
Utilize duty deferral options, such as the Free Trade Zone (FTZ) program, to delay or reduce duty payments on the Leather Wallet.
Preferential Tariff Programs
Take advantage of preferential tariff programs, such as the Generalized System of Preferences (GSP), to reduce duty rates on the Leather Wallet.
South Korea Customs Compliance Rules for Leather Wallet
Korea Customs Service Requirements for Leather Wallet
The Korea Customs Service requires a KC Mark certification for certain products, including Leather Wallets, to ensure compliance with safety and quality standards.
De Minimis Threshold
The de minimis threshold in South Korea is $150 USD, below which no duty or tax is payable, allowing for duty-free importation of low-value Leather Wallets.
Frequently Asked Questions About Leather Wallet Import Duty from China to South Korea
What is the HS code for a Leather Wallet?
The primary HS code for a Leather Wallet is 4202.310000. This code covers wallets and purses made of leather. Verify the HS code with the Korea Customs Service for accuracy.
How do I calculate the landed cost of a Leather Wallet?
Calculate the landed cost using the formula: CIF + Duty (10%) + VAT (10%) = Total, in USD. This will give you the total cost of importing the Leather Wallet.
What documents are required for customs clearance?
Required documents include a Commercial Invoice, Certificate of Origin, and Packing List. These documents must be submitted to the Korea Customs Service for customs clearance.
Can I reduce duty on a Leather Wallet using FTAs?
Yes, the China-South Korea FTA reduces or eliminates tariffs on certain goods, including leather products. Verify the specific terms of the agreement to determine if you can reduce duty liability.
What is the de minimis threshold in South Korea?
The de minimis threshold in South Korea is $150 USD, below which no duty or tax is payable. This allows for duty-free importation of low-value Leather Wallets.
What are the consequences of HS code misclassification?
Misclassifying a Leather Wallet under the wrong HS code can result in fines and potential confiscation of goods, as the Korea Customs Service strictly enforces HS code accuracy.