South Korean companies are under pressure as the liquidation of reciprocal tariff entries draws near.

The Korea International Trade Association on Monday cited U.S. Customs and Border Protection (CBP) procedures indicating that it typically liquidates shipments, finalizing their duty bill, about 314 days after entry.

The U.S. government imposed a 10 percent tariff on South Korean imports on April 5 of last year under the International Emergency Economic Powers Act, then raised the levy to 15 percent on August 7.

Accordingly, import entries subject to reciprocal tariffs on South Korean goods on April 5 will liquidate around February 20.

The rules for claiming tariff refunds differ significantly before and after liquidation, underscoring the need for advance preparation.

Settlement Deadline Nears for US Tariffs on S. Korean Goods