South Korea creates new anti-dumping team to combat unfair trade practices

South Korea's Ministry of Economy and Finance has announced that it will set up a special anti-dumping group in its Tax Policy Directorate to combat unfair trade practices. This move is due to the fact that anti-dumping investigations imposed on foreign imports have steadily increased over the past four years, especially in sensitive sectors such as steel.

Purpose of creation

The creation of the team reflects the rapidly changing dynamics of global trade, including the introduction of reciprocal US tariffs and the growth of imports of dumped goods at low prices. According to the ministry, the goal is to actively protect South Korean industries, ensure competitiveness and protect domestic companies from unfair market pressure.

Key roles of the anti-dumping group

The new unit will work closely with the Korean Trade Commission and will be responsible for reviewing the feasibility of imposing anti-dumping duties, negotiating price commitments with foreign suppliers, and conducting post-investigation monitoring following the application of duties.

Government measures to prevent circumvention

South Korea has already introduced several measures to curb the impact of cheap imports as a result of global oversupply. Among them is the revision of the Decree on the Application of the Customs Law, which expanded anti-waste duties to cover goods that undergo minor changes in the producing country, a tactic often used to circumvent existing ones.