Seoul: South Korea's trade watchdog has resolved to impose anti-dumping tariffs on stainless steel plates from four Chinese companies, as stated by Seoul's industry ministry. The Korea Trade Commission (KTC) has recommended that the finance ministry levy a 21.62 percent duty on imports from Schuang International Development Ltd., STX Japan Corp., Best Win International Co., and Jiangsu Daekyung Stainless Steel Co., all based in China, for the next five years.
According to Yonhap News Agency, the decision follows a complaint filed by South Korean steel company DK Corp. against the aforementioned Chinese companies with the KTC a year ago. The KTC found that the dumping of these Chinese steel plates, which are extensively used in the natural gas, shipbuilding, semiconductor, and display sectors, caused significant harm to the local industry.
Furthermore, the KTC conducted a public hearing on Thursday regarding suspected damage to Korean companies from the alleged dumping of Chinese sodium dithionite products and Thai particle boards. The commission is expected to make a final decision on potential anti-dumping measures concerning these products later this year.