SEJONG-- South Korea's trade commission said Thursday it held a public hearing on an anti-dumping case on polyethylene terephthalate (PET) film imported from Taiwan, Thailand and the United Arab Emirates (UAE) to collect opinions from the foreign companies and local producers.
The Korea Trade Commission (KTC) held the meeting in Sejong city, with about 30 stakeholders who range from local PET companies and importers to government officials in attendance.
The KTC has levied provisional duties of 3.9-51.9 percent on the synthetic resin imported from the three countries since Nov. 1, citing substantial damage to the local industry.
During the closed hearing, the importers argued that the Korean PET film has lost price competitiveness and the high tariff on foreign goods only burden domestic consumers, the commission said.
The PET film subject to the imposition is used for manufacturing snack packages and materials for liquid crystal displays.
The KTC said it will reflect on their opinions and results of on-site inspection to draw a conclusion in January, and the finance department will confirm a decision by April.
The local market for the chemical compound was estimated at 290,000 tons in 2016 worth 1 trillion won (US$886.2 million), with products imported from Vietnam, India and Ukraine accounting for 10 percent, according to Seoul's trade ministry.
Source: Yonhap News Agency