South Korea's KTC Recommends Price Commitments in HRC AD case against Japan, China

According to an official statement released by the Korean Trade Commission (KTC) under the Ministry of Trade, Industry and Energy of South Korea (MOTIE), the commission recommended accepting price commitments offered by a number of Japanese and Chinese exporters of hot rolled coils (HRC), while offering anti-dumping duties to non-participating companies.

Price commitments recommended for individual exporters

During the discussion, KTC concluded that dumping imports of HRC from Japan and China had caused significant damage to the domestic industry.

However, instead of imposing duties on all exporters, the commission recommended that the government accept price commitments submitted by three Japanese and six Chinese manufacturers/exporters, including JFE Steel, Nippon Steel and Baosteel. In accordance with such obligations, exporters agree to raise their export prices to eliminate the harmful effects of dumping instead of paying anti-dumping duties.

Fees offered for other companies

For exporters who did not comply or were not accepted on price obligations, the CPC recommended continued application of anti-dumping duties. According to the official release, the proposed duty rates are 32.66 percent for Japanese companies and 33.10 percent for Chinese companies.

The KTC's recommendation will be sent to the relevant authorities for final decision and implementation in accordance with South Korea's trade policy.