South Korea to Waive Tariffs on Extra Shipping Costs for Middle East Imports Rerouted After Strait of Hormuz Closure

South Korea will exempt additional shipping costs from tariffs on imports rerouted due to the closure of the Strait of Hormuz, customs authorities said Friday. The measure will apply retroactively to imports reported since March 1 that have already faced sharp increases in shipping costs, according to the Korea Customs Service.

The exemption covers standard freight charges, demurrage fees and transportation insurance premiums.

The Korea Customs Service issued the statement about the tariff exemption on May 8, 2026. Eligible shipments include vessels from the Middle East using alternative routes that bypass the Strait of Hormuz, emergency air cargo transport and ships stranded in the strait due to the conflict. The measure is intended to ease supply chain disruptions caused by the closure of the Strait of Hormuz.

-Israeli strikes on Iran in late February, Yonhap reported. This Reuters file photo shows a vessel in the Strait of Hormuz off the coast of Oman on April 12, 2026. The image, distributed by Yonhap, captures the waterway in the weeks after the strikes that rendered the critical route impassable.

The Korea Customs Service said the tariff exemption applies to all three categories of affected shipments from the Middle East. By extending relief to demurrage fees and insurance premiums in addition to standard freight charges, the policy addresses the full range of extra costs incurred by importers since early March.