South Korea Imposes Temporary Anti-Dumping Duties on China and Japan

Strategic Insights -

The Trade Committee of the Ministry of Trade, Industry and Energy of South Korea has decided to impose temporary anti-dumping duties on imported hot-rolled steel plates from China and Japan, as well as single-mode optical fibers from China. This decision was made following a preliminary investigation that found substantial damage to the relevant industries in South Korea. To prevent further losses, the Trade Commission has recommended imposing provisional anti-dumping duties ranging from 28.16% to 33.57% on imported hot-rolled steel plates and a provisional anti-dumping duty of 43.35% on single-mode optical fibers produced in China.

Key Takeaways:

  • The Trade Committee of the Ministry of Trade, Industry and Energy of South Korea has imposed temporary anti-dumping duties on imported hot-rolled steel plates from China and Japan.
  • The duties will range from 28.16% to 33.57% on imported hot-rolled steel plates from China and Japan.
  • Single-mode optical fibers produced in China will face a provisional anti-dumping duty of 43.35%.
  • The Trade Commission began a preliminary anti-dumping investigation on carbon steel and other hot-rolled alloy steel plates imported from China and Japan and single-mode optical fibers imported from China in March.
  • The investigation found that the relevant dumping behavior caused substantial damage to the relevant industries in South Korea.
  • The Trade Commission reviewed and approved four anti-dumping cases, including the above, at its 462nd meeting.
  • The Trade Committee's decision aims to prevent related industries from suffering losses during future formal anti-dumping investigations.

Statistics:

  • 4 anti-dumping cases were reviewed and approved by the Trade Commission at its 462nd meeting.
  • 2 countries, China and Japan, will be subject to temporary anti-dumping duties on imported hot-rolled steel plates.
  • 85% to 91.43% of the entire product category of import will be affected by the imposed duties on hot-rolled steel plates from China and Japan.
  • The imposed duties on single-mode optical fibers will cover 100% of the import volume.
  • March is the month when the preliminary anti-dumping investigation started.

Sources:

  • Yonhap News Agency, Seoul, July 24
  • China Chamber of Commerce for Import & Export of Machinery and Electronic Products
  • Ministry of Trade, Industry and Energy of South Korea
  • https://cccme.org.cn/news/details.aspx?id=51FA79F3BF7F7D41825666A0FC25D00D&classid=8C92359A9456952E&xgid=F868932F64EB7AAF