S. Korea to impose anti-dumping tariffs on PVC paste resin from 4 European countries

Seoul, May 21 (IANS) South Korea’s trade watchdog decided on Thursday to impose anti-dumping tariffs on polyvinyl chloride (PVC) paste resin products from four European nations, according to Seoul’s industry ministry.

The Korea Trade Commission (KTC) made a final decision to recommend the finance ministry levy anti-dumping duties ranging between 25.79 percent and 31.55 percent on PVC paste resin imported from Germany, France, Norway and Sweden, it said.

PVC paste resin refers to fine-powder resin widely used in interior building materials, and other industrial goods, such as shoes and gloves, reports Yonhap news agency.

The decision came after South Korean chemical firm Hanwha Solutions Corp. filed a complaint against a number of European exporters in July last year.

The KTC said it concluded that the dumping of PVC paste resin produced in Germany, France, Norway and Sweden here has caused “tangible” damage to the local industry.

On Thursday, the KTC also decided to open investigation into alleged dumping of bars and rods of steel by three China-based companies — Daye Special Steel Co., Singapore Jinteng International Pte Ltd. and Jiangsu Yonggang Group Co.

In April, South Korea’s trade watchdog made a preliminary decision to impose anti-dumping tariffs on cold-rolled steel products imported from China, citing damage to the local industry.

Under the decision, the Korea Trade Commission (KTC) will ask the Ministry of Economy and Finance to impose tariffs ranging from 22.34 to 33.67 percent on imports of cold-rolled carbon steel and alloy steel products with zinc or zinc-alloy coatings from the neighbouring nation until it reaches a final ruling in September, according to its officials.

The commission opened an investigation into alleged dumping of such products by Chinese companies following a complaint from Korean firms in November.

–IANS

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