Seoul: South Korea's trade watchdog has announced the imposition of anti-dumping tariffs on polyvinyl chloride (PVC) paste resin products originating from four European countries. The move, aimed at protecting the domestic industry from unfair pricing practices, was confirmed by the Korea Trade Commission (KTC) following a decision made on Thursday.
According to Yonhap News Agency, the KTC has recommended that the finance ministry implement anti-dumping duties ranging from 25.79 percent to 31.55 percent on PVC paste resin imports from Germany, France, Norway, and Sweden. PVC paste resin is a fine-powder resin commonly used in the production of interior building materials and various industrial goods, including shoes and gloves.
The decision follows a complaint filed in July last year by South Korean chemical firm Hanwha Solutions Corp. against several European exporters. The KTC determined that the imported PVC paste resin from the specified European countries has caused significant harm to the South Korean industry, warranting the imposition of these duties.
In addition to the decision on PVC paste resin, the KTC announced plans to investigate allegations of dumping involving bars and rods of steel by three companies based in China. The companies under investigation are Daye Special Steel Co., Singapore Jinteng International Pte Ltd., and Jiangsu Yonggang Group Co. The investigation aims to determine whether these companies have engaged in unfair trade practices detrimental to the local steel industry.