Jun 16, 2020
S. Korea to keep anti-dumping levies on Japanese steel plates for another 3 yrs
2020-06-16
South Korea will extend the 13.17 percent anti-dumping duties on Japanese stainless steel plates for another three years, citing concerns for industrial damage from the risk of recurrence in unfair pricing, according to the finance ministry statement.
Stainless steel plates are widely used in petrochemical, shipbuilding, steel pipe, desalination, power generation and semiconductor plants.
Seoul has slapped a 13.17 percent anti-dumping tariff on imported Japanese steel plates since April 2011, citing substantial damage to the local industry. The measure was previously extended once in 2016 until last December.
The ministry said the extension is necessary because of the dumping of Japanese steel plates can cause continuous or recurring damage to the domestic industry.
Earlier, the trade ministry’s commission asked the finance ministry to extend the tariff for five years, but the finance ministry eventually set the period at three years, citing it was an another three-year extension after a five-year extension and the industry remains monopolistic in Korea
Source: Pulse News
