According to the Customs Administration, the Ministry of Finance and the Ministry of Economy made a preliminary conclusion on the presence of dumping during the anti-dumping investigation into the products. It is also questionable that such dumping caused material damage to the domestic industry. The Customs Administration stated that the temporary measures are aimed at preventing further damage to the domestic industry during the investigation period.
The preliminary anti-dumping duty rate for South Korean steel producer POSCO, along with exporters POSCO International Corporation, Donghwa Corporation, Hyosung TNC Corporation and Toyota Tsusho Korea Corporation, was set at 45.68%. Other South Korean manufacturers or exporters will be subject to a preliminary anti-dumping duty rate of 49.84%.
Meanwhile, all manufacturers or exporters from China will be subject to a preliminary anti-dumping duty rate of 26.44%.
The Customs Administration further stated that the Ministry of Finance is expected to finalize a final decision on whether dumping has taken place within 60 days of the day following the announcement of the preliminary decision.
