A tariff is expected to be imposed on oil resin products from China and Taiwan.
The Ministry of Trade, Industry and Energy announced on the 22nd that it has decided to recommend to the Minister of Economy and Finance the imposition of anti-dumping tariffs of 2.26% to 18.52% on the products, after determining that there is substantial damage to the domestic industry due to dumping and dumped imports related to the dumping investigation of 'oil resin from China and Taiwan', which began in August last year.
Earlier, Kolon Industries applied for an investigation necessary for the imposition of anti-dumping tariffs, stating in May last year that the domestic industry is suffering substantial damage from the dumping imports of oil resin from China and Taiwan.
The basic tariff rate for oil resin is 8%, but due to the Korea-China Free Trade Agreement (FTA), no tariffs have been imposed on Chinese products.
On that day, the trade commission also reported the initiation of dumping investigations on three items including fiberboard from Thailand and industrial robots from Japan and China, and butylglycol ether from Saudi Arabia.
A public hearing related to the dumping of hot-rolled steel plates from China was also held. Currently, provisional anti-dumping tariffs of 27.91% to 38.02% are being imposed on Chinese plates. A trade commission official explained that the public hearing was held to give interested parties an opportunity to present their opinions before the final determination.