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South Korean products put on import restrictions in 30 countries

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Staff Writer | February 7, 2017
Thirty countries have 186 import restrictions against South Korean products, most of them targeting key exports including steel, metal and chemicals, the Korea International Trade Association (KITA) said.
India steel
Business in Korea   The Korea International Trade Association:
Of the 186 counted as of end of last month, 137 are already in place while 49 are in the investigative process.

The number of barriers have been increasing yearly. When KITA first started making its study in January 2015, it had found 166 cases. In 2016, it counted 172 cases.

Import regulations come in the form of anti-dumping duties, safeguards and countervailing duties. Anti-dumping rulings accounted for the heaviest with 137 cases. Safeguards was next with 42.

India had the highest number of import restrictions against South Korean products with 33. The United States had 23, China and Thailand 13 each, and Brazil 10.

Barriers on steel and metal counted 90, with 40 on chemical products.

Some 20 percent of import restrictions on steel and metal goods were in the U.S. For chemical products, 51 percent were from India and China, according to KITA.

There are 43 cases of ongoing investigations that started last year.

This year, India began an anti-dumping probe against South Korean synthetic filament yarn on Jan. 9. On Jan. 25, Canada imposed a preliminary duty of 42.8 percent after a dumping ruling against South Korean industrial steel products.

The U.S. International Trade Commission on Jan. 27 decided on a 3.96 percent-5.75 percent anti-dumping duty on dioctyl terephthalate (DOTP) from two South Korean companies, while Pakistan on Jan. 23 extended the existing customs tariffs on hydrogen peroxide for another five years.


 

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