Chapter I General Provisions
These Regulations are enacted pursuant to Article 2 of the Foreign Trade Act (hereafter referred to as the Act).
Regarding these regulations of the competent authority of the Ministry of Economic Affairs (MOEA), such affairs shall be implemented by the Bureau of Foreign Trade, MOEA (hereafter referred to as BOFT).
The term "licensing" as used herein means issuance of export permits by the BOFT or any organization authorized by it. The term "exemption of licensing" as used herein means exemption of an export permit.
The term "a firm" as used herein means an exporter/importer duly registered with the BOFT under the "Regulations Governing Registration of Exporters and Importers".