[K&K Updates] Participation in "2025 ACVA Agent Roundtable" Hosted by KCS > notice

"Participation in the ACVA Agent Roundtable Hosted by Korea Customs Service"

On July 17, I had the honor of attending the “ACVA Agent Roundtable” at the invitation of the Customs Valuation Policy Division of the Korea Customs Service (KCS). 

The roundtable was attended by high-level officials, including the Director General of the Valuation Bureau and the Head of Valuation Division 1 of the Seoul Customs Office.

Unlike the broader “ACVA Issue Forum with External Experts” held in May, this session was a small-scale, in-depth meeting involving representatives from 14 customs consulting firms—each currently handling at least one ACVA case—who met directly with senior KCS officials. We were able to share views on operational directions and openly discuss practical challenges and suggestions from the field.

It was a deeply meaningful moment for K&K Customs Consulting to be seated among Korea’s leading customs advisory firms, and we felt both honored and proud to be part of this roundtable.

During the session, a wide range of ACVA-related topics were discussed. In particular, the Director General provided a briefing on the “New Requirement for Comprehensive Submission of Transfer Pricing Documentation”, which will come into effect starting September 1.

The KCS emphasized that it will adopt a more proactive and preventive approach, aiming to secure transfer pricing documentation at the time of import declaration. 

It also warned that if companies respond insincerely or incompletely, enforcement actions such as the cancellation of monthly payment benefits may be taken.

For multinational enterprises, this means advance preparation and internal review of relevant documentation is essential before the new regulation takes effect.

Additionally, the KCS shared that companies with approved ACVA decisions may receive various administrative benefits, such as:

• Waiver of transfer pricing documentation submission, and

• Simplified electronic screening procedures for provisional price declarations.

These incentives are part of KCS’s broader strategy to expand adoption of the ACVA program.

In this context, applying for an ACVA may be a strategic consideration worth exploring for multinational corporations operating in Korea.

Link to related article: 관세청, ‘특수관계자 간 과세가격 사전심사(ACVA)’ 대리인 간담회 개최 :: 조세신문