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Financials
South Korea proposes action against dumped Chinese float glass
The South Korean trade commission instituted provisional antidumping duties on Chinese float glass that domestic manufacturers say is undercutting prices, according to a Sept. 17 article from the Yonhap English Times.
The Korea Trade Commission began investigating the dumping of Chinese glass May 1. KTC officials recommended tariffs of 11.42 percent to 39.05 percent on Chinese imports until its investigation concludes, according to the article.
“The probe … showed local glass manufacturers are being hurt by Chinese products that are suspect of cutting prices illegally to win local market share,” said Kim Jung-hee, head of the industrial damage investigation team, according to the article.
Chinese companies affected by the proposed tariffs include Jiangsu Farun Group Co., Qingdao Float Glass Co. and Qinhuangdao Yaohua Glass Co., according to the article.
The KTC’s recommendations are subject to approval by the Ministry of Finance and Economy. If approved, the tariffs will be in place for up to three months, according to the article.
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