Starting in Aug., the government will impose anti-dumping tariffs of up to 31.55% for five years on PVC (polyvinyl chloride) paste resin imported to Korea from Europe. PVC paste resin is used in a range of consumer and industrial products, including synthetic leather, wallpaper, flooring, and gloves.
The Ministry of Finance and Economy said on the 10th it will impose anti-dumping tariffs of at least 25.79% and up to 31.55% on PVC paste resin from Germany, France, Norway, and Sweden.
The decision follows a petition by Hanwha Solutions to the Ministry of Trade, Industry and Resources' Trade Commission for an anti-dumping investigation. The government previously concluded that "dumping was confirmed for the goods subject to the duty, and substantial injury to the domestic industry was proven."
An anti-dumping tariff is a tariff imposed up to the difference between the normal value and the dumping price when foreign goods are imported below normal value and there is substantial injury to the domestic industry, and when the need to protect the domestic industry is recognized. As of July this year, anti-dumping tariffs are being imposed in a total of 36 cases.