The government has decided to slap antidumping duties of 21-point-62 percent on Chinese stainless steel plates.
 
The Korea Trade Commission, under the Ministry of Trade, Industry and Energy, announced the final decision on Thursday, citing substantial damage to the domestic industry due to low-cost dumping, and will recommend the finance ministry levy the duties for the next five years.
 
Chinese steel imports have provisionally been subject to 21-point-62 percent duties since March.
 
The latest decision comes after DKC, a local stainless steel company, filed a complaint in June last year against Chinese steel companies, claiming it suffered damage from dumped imports amid a prolonged slump in domestic demand.
 
Stainless steel plates with a thickness of four-point-75 millimeters or more and a width of 600 millimeters or more are used in shipbuilding, steel pipes, and various other products. The domestic steel plate market size is valued at around 600 billion won.

Investigations have also been requested on carbon steel and hot-rolled steel plate products from China.

Separately, the trade watchdog held a public discussion on Thursday on suspected damage to Korean companies from alleged dumping of Chinese sodium dithionite products and Thai particle boards. A final decision on related anti-dumping measures is expected later this year.