Korea criticizes China's anti-dumping investigation on stainless steel

South Korea's Industry Ministry said Friday it expressed concern over China's anti-dumping investigation of hot rolled stainless steel sheets, saying locally made products are not negatively affecting Chinese industry.

The move follows Beijing's anti-dumping checks on imported hot rolled stainless steel sheets from South Korea, Japan, the European Union and Indonesia.

The Department of Commerce, Industry and Energy said South Korean products do not compete with Chinese competitors in terms of material or price, and that most of the imported volume is consumed by South Korean firms operating in China.

Thus, the ministry said the anti-dumping rules would not help Chinese industry and could potentially have an impact on the regional economy in which South Korean firms operate.

POSCO, a leading South Korean steelmaker, echoed this view, urging the Chinese government to end anti-dumping checks as the company is not doing any damage to the Asian economy.

The ministry said it will use all the necessary measures until the Chinese government issues a final verdict, which is slated for July.