The good otherwise satisfies any applicable regional value content (RVC) requirements specified in GN 33(b) and the good satisfies all other applicable requirements or.Each of the non-originating materials used in the production of the good undergoes an applicable change in tariff classification specified in GN 33(o) or.The good is produced entirely in the territory of one or more of the Parties and.The good is wholly obtained or produced entirely in the territory of the Parties (Republic of Korea, the United States or both).In general terms, under the KORUS a good is originating when: The HTSUS has been amended to include GN 33, both the general and specific rules of origin, definitions, and other related provisions. Section 202 of the KORUS Implementation Act specifies the rules of origin used to determine if a good “originates” under the Agreement. OriginationĪn originating good is one that meets the rules of origin set forth in GN 33 and all other requirements of the agreement. The text of the Agreement is posted on the website of the U.S. Title 19, Code of Federal Regulations (CFR), was amended with the addition of Subpart R-United States-Korea Free Trade Agreement. The Agreement provides for the immediate or staged elimination of duties and barriers to bilateral trade in goods and services originating in the United States and/or Korea. Annex II of Publication 4308 amends the HTSUS to provide for immediate and staged tariff reductions. Annex I of Publication 4308 amends the Harmonized Tariff Schedule of the United States (HTSUS) with the addition of General Note 33 (GN 33) containing specific information regarding the KORUS and Subchapter XX to Chapter 99 providing for temporary tariff rate quotas (TRQs). The Proclamation incorporated, by reference, Publication 4308 of the United States International Trade Commission (USITC). Presidential Proclamation 8783, dated Maand published in the Federal Register on March 9, 2012, implements the U.S.-Korea Free Trade Agreement (KORUS) for goods entered, or withdrawn from warehouse for consumption, on or after March 15, 2012. The U.S.-Korea Free Trade Agreement Implementation Act (“the Act,” Pub. – Korea Free Trade Agreement (KORUS) Background ^ "Inside Jeff Bezos' shiny new US$500 million Koru megayacht and Abeona vessel"."75m custom Damen Yachting support vessel delivered and named". ^ Damborsky, Katia (11 February 2023).^ "Miljoenenjacht van Amazon-baas Jeff Bezos duikt op voor Zuid-Hollandse kust".^ "Rotterdam has confirmed it will dismantle a historic bridge to allow a superyacht built for Amazon founder Jeff Bezos to fit through"."Jeff Bezos rides ultra-rich superyacht wave". "Jeff Bezos will reportedly join the billionaire boating class with a $500M luxury sailing superyacht". "Here's where Jeff Bezos's superyacht ranks among the world's most expensive boats". ^ "Jeff Bezos' superyacht will see historic bridge dismantled"."Jeff Bezos and the secretive world of superyachts". ^ "127m Oceanco Y721 superyacht launched in the Netherlands".Support vessel Ī 75-metre (246 ft) 1,900 Gross ton yacht support vessel, the Abeona, will "shadow" Koru, providing additional crew accommodation, a helipad with enclosed helicopter accommodation, and capacity for relief supplies. The masts were stepped when the vessel was downstream of the bridge in the Rotterdam Harbour. In the end, the partial dismantling of the 'De Hef' bridge proved to be unnecessary. This move was very controversial because the bridge is a Dutch national monument owing to its long history. In 2022, Rotterdam announced that the city's historic De Hef bridge would be partially dismantled, temporarily, to allow the yacht to pass through. When commissioned, the yacht was the second-largest sailing yacht in the world, after Andrey Melnichenko's Sailing Yacht A. It is a three-masted sailing yacht 127 meters (417 ft) long and reported to have cost $500 million or more. The vessel was built in the Netherlands by Oceanco starting in 2021, and delivered in April 2023. Koru is a luxury custom superyacht owned by Jeff Bezos, the founder of Amazon.
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