(1) Customs duties may be exempted on goods re-exported within any of the following periods from the date on which an import declaration thereon has been accepted:
1. Goods prescribed by Ordinance of the Ministry of Economy and Finance: A period fixed by the head of a customs office according to the standards prescribed by Presidential Decree up to one year: Provided, That the head of such customs office may extend such period by up to one year when he or she deems that extenuating circumstances exist;
2. Goods prescribed by Ordinance of the Ministry of Economy and Finance as goods that have to be re-exported after the lapse of one year or over due to unavoidable causes: A period fixed by the head of a customs office.
(2) No goods which are exempted from customs duties in accordance with paragraph (1) shall be used for purposes other than those prescribed in the same paragraph or transferred within a period fixed in the same paragraph: Provided, That this shall not apply where the head of a customs office pre-approves them, as prescribed by Presidential Decree.
(3) In any of the following cases, customs duties which were exempted shall be promptly collected from a person who failed to re-export such goods, who used such goods for other purposes or who transferred such goods. If it is impossible to collect such exempted customs duties from a transferor, the exempted customs duties in question shall be collected from a transferee: Provided, That this shall not apply where the goods in question have been destroyed or lost due to any disaster or unavoidable causes, or disposed of upon prior approval of the head of a customs office:
1. Where the goods exempted from customs duties in accordance with paragraph (1) fail to be re-exported within the period fixed in the same paragraph;
2. Where the goods are used for purposes other than those prescribed in paragraph (1) or are transferred to a person who intends to use them for other purposes.
(4) If goods prescribed by Ordinance of the Ministry of Economy and Finance are not exported within a period provided in paragraph (1) from among goods exempted from customs duties pursuant to paragraph (1), the head of a customs office shall collect an amount equivalent to 20/100 of the customs duties to be assessed on the relevant goods as an additional duty of not exceeding five million won. <Amended on Jan. 1, 2013>[This Article Wholly Amended on Dec. 30, 2010]