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.
