Incoterms
What is Incoterms?
The International Chamber of Commerce's standard three-letter trade terms — EXW, FOB, CIF, DAP, DDP and others — that define exactly where the seller's responsibility for cost, risk and customs ends and the buyer's begins. The current edition is Incoterms 2020.
Why does Incoterms matter when sourcing Korean cosmetics?
Always state the edition and the named place: "FOB Busan, Incoterms 2020". The term alone is ambiguous, and a quotation that says only "FOB" has not actually told you who pays for what.
At a glance
- Category
- Trade & logistics
- Also known as
- 인코텀즈
- Korean term
- 인코텀즈
- Last reviewed
- July 23, 2026
Related terms
Sourcing Korean cosmetics?
Tell us the spec and we come back with matched, verified suppliers.