(1) Customs duties on any of the following imported goods may be reduced, as prescribed by Presidential Decree:
1. Goods prescribed by Ordinance of the Ministry of Economy and Finance, which are manufactured or processed overseas using domestic raw materials and components exported for such purpose;
2. Goods exported for the purposes of processing or repairing, which conform with the standards prescribed by Ordinance of the Ministry of Economy and Finance.
(2) Where goods under paragraph (1) fall under any of the following cases, no customs duties thereon shall be reduced:
1. Where customs duties have been reduced or exempted for the relevant goods or raw materials: Provided, That cases provided for in paragraph (1) 2 shall be excluded herefrom;
2. Where any customs duties have been refunded under this Act or the Act on Special Cases concerning the Refund of Customs, etc. Levied on Raw Materials for Export;
3. Where no customs duties have been assessed on bonded processing goods or other goods whose storage period expires, are sold under the condition that they are re-exported.[This Article Wholly Amended on Dec. 30, 2010][Title Amended on Dec. 22, 2020]