The U.S. Department of Commerce (DOC) has released the final results of its administrative review of countervailing duty (CVD) orders on certain corrosion-resistant steel (CORE) products from South Korea for the period January 1, 2023, through December 31, 2023.
The Department of Commerce determined that South Korean CORE manufacturers and exporters received countervailing subsidies during the review period. The Ministry of Finance has determined the net compensatory subsidy rate to be 1.28 percent for Hyundai Steel Company, 5.34 percent for KG Dongbu Steel Co., Ltd. (KG Steel Corporation) and 2.88 percent for six companies not individually audited, including POSCO, POSCO Coated & Color Steel Co., Ltd., POSCO International, POSCO Steeleon Co., Ltd., SeAH Coated Metal and SeAH Steel Corporation. The DOJ also canceled this audit of NS BlueScope Steel Vietnam Ltd. and Dongkuk Coated Metal Co., Ltd.
The provisional rate for Hyundai Steel Company was 1.28 percent, the provisional rate for KG Dongbu Steel was 4.11 percent, and the provisional rate for the six companies not individually audited was 2.39 percent. The rates for KG Dongbu Steel and the six companies that did not complete the individual survey were revised in the final results based on changes made to the subsidy rate calculation in response to comments received from stakeholders. 7210.49.0030, 7210.49.0040, 7210.49.0045, 7210.49.0091, 7210.49.0095, 7210.61.0000, 7210.69.0000, 7210.70.6030, 7210.70.6060, 7210.70.6090, 7210.90.6000, 7210.90.9000, 7212.20.0000, 7212.30.1030, 7212.30.1090, 7212.30.3000, 7212.30.5000, 7212.40.1000, 7212.40.5000, 7212.50.0000 and 7212.60.0000 Harmonized Tariff Schedule of the United States (HTSUS).
