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Key Points

South Korea has imposed five-year anti-dumping tariffs on Chinese stainless steel plates following a complaint by domestic steelmaker DK Corp. The Korea Trade Commission found Chinese dumping caused substantial harm to local industries like shipbuilding and semiconductors. This follows similar tariffs on Vietnamese steel imports earlier this year. The trade watchdog is also investigating potential dumping of Thai particle boards and Chinese chemical products.

Key Points: South Korea Slaps 21.6% Anti-Dumping Tariffs on Chinese Steel Plates

  • KTC recommends 21.62% tariffs on 4 Chinese firms
  • DK Corp filed dumping complaint last year
  • Decision follows similar Vietnam steel tariffs
  • Probe ongoing for Thai particle boards
2 min read

S. Korea to impose anti-dumping tariffs on Chinese stainless steel plates

South Korea imposes 5-year anti-dumping duties on Chinese stainless steel plates after DK Corp complaint, citing damage to local industries.

"The dumping of Chinese steel plates has caused substantial damage to the local industry – Korea Trade Commission"

Seoul, June 26

South Korea's trade watchdog decided on Thursday to impose anti-dumping tariffs on stainless steel plates from four Chinese companies, according to Seoul's industry ministry.

The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy 21.62 percent duties on stainless steel products imported from Schuang International Development Ltd., STX Japan Corp., Best Win International Co. and Jiangsu Daekyung Stainless Steel Co., all in China, for the next five years, the ministry said.

The decision came after South Korean steel company DK Corp. filed a complaint against the Chinese companies with the KTC a year ago, reports Yonhap news agency.

The KTC concluded that the dumping of Chinese steel plates, widely used in the natural gas, shipbuilding, semiconductor and display sectors, has caused "substantial" damage to the local industry.

On Thursday, the KTC also held a public hearing on suspected damage to Korean companies from alleged dumping of Chinese sodium dithionite products and Thai particle boards before reaching a final decision on possible anti-dumping measures later this year.

In April, South Korea's trade watchdog decided to impose anti-dumping tariffs on cold-rolled stainless steel products from two Vietnamese companies.

The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy 18.81 percent duties on stainless steel products imported from Vietnam's Yongjin Metal Technology Co. and 11.37 percent tariffs on those from TVL Joint Stock Co. over the next five years, it said.

The decision came after South Korean steel giant POSCO Holdings Inc. filed a complaint against the Vietnamese companies with the KTC a year ago.

The KTC concluded that the dumping of Vietnamese steel products here has caused "substantial" damage to the local steel industry.

The KTC also recommended the finance ministry to levy provisional anti-dumping tariffs of up to 33.97 percent on Chinese sodium dithionite products following a preliminary investigation.

In addition, the trade watchdog proposed provisional anti-dumping tariffs of up to 17.19 percent on particle board imports from Thailand, according to the ministry.

—IANS

- IANS

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Reader Comments

R
Rajesh K.
This is why we need strong anti-dumping laws in India too! Chinese companies have been flooding our markets with cheap steel for years. Our domestic industry suffers while they capture the market. 🇮🇳
P
Priya M.
Interesting move by South Korea. We should study their trade policies - they're protecting local industries while maintaining good relations with China. Balance is key in international trade.
A
Amit S.
China's dumping practices are affecting multiple countries now. First it was India's solar panel industry, now steel in Korea. When will WTO take stronger action? 🤔
S
Sunita R.
As someone working in manufacturing, I can say these tariffs are necessary but not enough. Countries need to invest more in domestic production capabilities rather than just reacting to dumping.
V
Vikram J.
While I support protecting local industries, we must ensure such measures don't lead to higher prices for consumers. The middle class is already struggling with inflation.
N
Neha P.
South Korea is showing how to stand up to unfair trade practices. India should take note and be more proactive in protecting our industries from dumping, especially from neighboring countries.

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