The Ministry of Finance and Economy said Thursday it will revise existing regulations to allow manufacturers access to quicker refunds for export goods they made with imported materials and parts.

The ministry said revisions to the ordinance and regulations governing refunds will go into effect within this month.

Customs duties refunds refers to a government practice of repaying customs charges levied for imported materials that are manufactured here and then shipped abroad for sale.

The changes being made will also reduce the process of repayment from the present three tiers to two with the Bank of Korea sending the money directly to the company receiving the refund.