Korean beef
Korean beef: three separate cases launched against the Republic of Korea by Australia, New Zealand and the United States in 1988 concerning its beef import restrictions. The facts, common to all three cases, were that since Korea's accession to the GATT in 1967 it had maintained import restrictions for balance-of-payments reasons on a wide range of products, including beef. Korean imports of beef had risen rapidly since 1979, partly as the result of a tariff reduction that year from 25% to 20%, bound at the lower level. This led to pressures from Korean beef farmers for protection from the adverse effects of beef imports. In October 1984 Korea halted issuing tenders for commercial imports of beef into the general market, and in May 1985 imports of high-quality beef for the hotel market were also stopped. No further commercial imports of beef took place until August 1988 when the market was partly reopened. These actions had not been reported to the GATT Balance-of-Payments Committee. Beef imports were made under a domestic licensing mechanism, and they were subject to a certain base price level which applied both to wholesale auctions and direct sales. The base price was at first announced, but later it was assumed to be implicit under the conditions for these imports. At a meeting of the Balance-of-Payments Committee in December 1987 the prevailing view among participants, except Korea, was that Korea's current situation and the outlook for its balance of payments could no longer justify import restrictions under GATT Article XVIII:B (Governmental Assistance to Economic Development). This Article allows developing countries to institute and maintain import restrictions to conserve their foreign exchange and to promote their economic development. All three complainants argued that the Korean
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
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Author of the text: W. Goode
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