S. Korea to Impose Antidumping Duties on Chinese Hot-rolled Steel

South Korea has decided to impose antidumping duties of up to 34-point-one percent on hot-rolled steel plates imported from China for the next five years.

The Korea Trade Commission said Thursday that Chinese imports caused material injury to domestic producers, recommending the Ministry of Economy and Finance enforce duties ranging from 27-point-91 to 34-point-one percent.

Nine Chinese exporters, including Baosteel and Jiangsu Shagang, offered to raise export prices over five years, and Seoul may accept the pledge in lieu of duties. 

Hot-rolled plates, steel sheets at least six-millimeters thick, are widely used in shipbuilding and construction, with domestic producers including POSCO, Hyundai Steel and Dongkuk Steel. 

The product has already been subject to provisional tariffs of up to 38 percent since April, following a petition last year by Hyundai Steel. 

The commission also ruled in separate cases that patent and design infringements involving head-up display films, uninterruptible power supplies and fishing tools constituted unfair trade, and launched a new probe into European PVC paste resin imports.