Contents
- When the report is due
- Form, documents and steps
- Sanctions for not reporting or false reporting
- FAQ
A registered international freight forwarder (국제물류주선업자) in Korea must report on its registration standards each time 3 years pass. The first report is due within 60 days from the point 3 years after the registration date, and it is filed with the Mayor or Governor of the relevant metropolitan city or province. Freight forwarding is a registration with no validity period to apply for again, so this report serves as the periodic check that keeps the registration in good standing. Not reporting, or reporting falsely, is a ground for business suspension or cancellation.
For first-time registration, see our registration guide. For capital and guarantee insurance rules, see capital and guarantee insurance requirements.
When the report is due
The first reporting point is 3 years after the registration date, and the report is due within 60 days from then. When the authority accepts the report, it writes the next reporting point on the registration certificate and in the register. After that, the same report is repeated based on the date written on the certificate.
The registration standards covered are paid-in capital (asset value for individuals) and guarantee insurance. Guarantee insurance is not required if capital is above a set level, the forwarder owns a container yard, or it holds a bank payment guarantee or cargo liability insurance.
| Procedure | Trigger | Deadline |
|---|---|---|
| Registration standards report | 3 years after registration (then the date on the certificate) | Within 60 days of the reporting point |
| Change registration | Change of name, representative, officers or head office; decrease in capital or asset value | Within 60 days of the change |
| Succession report | Transfer, inheritance, merger | Within 30 days of succession |
If capital has decreased, file a change registration first rather than waiting for the 3-year report. For transfers and mergers, see business succession reports.
Form, documents and steps
The registration standards report form lists the trade name, representative, officers and address, and the reported items: capital or asset value, and whether guarantee insurance is in place (with the reason if not). If there are more than 3 officers, attach a separate list. The processing period on the form is 5 days. The attachments follow the same rules as a new registration:
- Documents proving the registration standards are met
- The format and terms of the bills of lading and air waybills to be issued in the forwarder's own name
- If the reporter (or, for a company, an officer) is a foreign national, home-country documents showing no disqualification (apostille or consular confirmation)
- For a foreign-invested company, proof of foreign investment
These documents must have been issued or prepared within 1 month before filing, and the authority checks records such as the corporate registry through shared administrative data. Because the authority may delegate intake and review to a logistics association or similar body, confirm the filing desk with the province first.
- Check the reporting point on the registration certificate and put the 60-day deadline on your calendar.
- Confirm that capital or asset value has not fallen since registration.
- Check that the guarantee insurance period has not lapsed, or that the exemption still applies.
- Prepare attachments issued within 1 month.
- File the report and, once accepted, note the next reporting point written on the certificate.
Sanctions for not reporting or false reporting
Not reporting or reporting falsely leads to a warning for the 1st violation, a 30-day business suspension for the 2nd, a 60-day suspension for the 3rd and cancellation for the 4th. The same steps apply if the report reveals that the registration standards are no longer met. Violations are counted based on sanctions for the same violation within the last 1 year.
The authority may reduce a suspension by up to half, or reduce cancellation to a 6-month suspension, if the violation was a minor oversight, its impact was slight, or it was a first violation by a forwarder with 5 or more years of exemplary business. A penalty surcharge may replace a suspension that would seriously inconvenience customers, and a hearing is held before cancellation. After cancellation, the forwarder cannot register again for 2 years. For help preparing the report, see our freight forwarding registration service.
FAQ
Q. Does the registration have to be renewed every 3 years?
A. There is no procedure to obtain the registration again. Instead, you report on the registration standards each time 3 years pass, within 60 days of the reporting point.
Q. How do I know the next reporting point?
A. When a report is accepted, the authority writes the next reporting point on the registration certificate and in the register.
Q. Is the registration cancelled the first time I miss the report?
A. Under the sanction standards, the 1st violation is a warning. If the same violation repeats within 1 year, it moves to 30-day and 60-day suspensions, then cancellation at the 4th.
Q. What if the guarantee insurance has expired at the reporting point?
A. Unless an exemption applies, guarantee insurance is a registration standard, so take out a new policy before reporting. Falling short of the standards is subject to the steps from warning to cancellation.
Talk to us about your registration standards report
To check your reporting point, review capital and guarantee insurance, and prepare the form and attachments, contact YouSun Administrative Agency. Phone 02-325-8222, weekdays 09:30~17:30 KST.
Request a consultation