South Korea has launched an anti-dumping investigation into the importation of hydrocarbon resin from China and Taiwan, a move initiated by the Korea Trade Commission of the Ministry of Trade, Industry and Energy.
According to Yonhap News Agency, The investigation follows a complaint by Kolon Industries Inc., which reported substantial damage to its business due to the influx of low-priced hydrocarbon resins from these regions. The firm claims that Chinese and Taiwanese companies have a dumping margin of 15.52% and 18.52%, respectively. Hydrocarbon resin is essential in manufacturing products such as paints and adhesives, due to its properties that enhance tackiness and adhesiveness. Despite the basic tariff rate of 8% on such imports, products from China enter South Korea duty-free under a free trade agreement. The commission anticipates making a preliminary determination within five months, with a final decision expected within a maximum of twelve months from the start of the investigation.