(1) If any foreign country intends to take or has taken measures to withdraw or modify a tariff concession made on specific goods or other measures, the Government may take the following counteractions where it deems eligible to take any counteractions in accordance with a relevant treaty:
1. A counteraction to assess customs duties on specific goods within the limit of an amount equivalent to the customs value of the particular goods in addition to customs duties assessed on such goods under this Act;
2. If a tariff concession is made to the specific goods, a counteraction to suspend the application of such tariff concession to them and assess customs duties within the limit of tariff rates fixed in this Act.
(2) Counteractions referred to in each subparagraph of paragraph (1) may be taken to the necessary extent as a counteraction against measures taken by a foreign country.
(3) Countries subject to counteractions referred to in paragraph (1), application period, details and other necessary matters thereof shall be prescribed by Presidential Decree.[This Article Wholly Amended on Dec. 30, 2010]