Seoul: The South Korean government has initiated an investigation into the suspected dumping of hot-rolled carbon steel and optical fiber products originating from China and Japan, as announced by the industry ministry on Thursday.
According to Yonhap News Agency, the Korea Trade Commission (KTC) has started examining claims of dumping involving hot-rolled products of carbon steel and alloy steel by six Japanese companies, including JFE Shoji Corp., and five Chinese counterparts, such as Benxi Iron and Steel Group. This action comes in response to a complaint lodged by Hyundai Steel Co., a leading South Korean steel producer, as indicated by the Ministry of Trade, Industry and Energy.
The KTC has also undertaken a separate inquiry into accusations that three Chinese firms sold single mode optical fiber products at prices below their normal value. This investigation follows a complaint from LS Cable and System Ltd., the largest cable company in South Korea.
Following an initial three-month inquiry, the KTC intends to carry out a main investigation lasting an additional three to five months before making any final decisions.
The KTC recently conducted a public hearing concerning the ongoing probe into suspected dumping of petroleum resin products from China and Taiwan. This hearing is part of the commission's efforts to ensure that the involved parties' defense rights are respected. In December, the KTC reached a preliminary conclusion to impose antidumping tariffs as high as 18.52 percent on these resin products.