China starts antidumping probe on LS Cable

08/03/2012 12:00 - 449 Views

HONG KONG (Yonhap) -- China said Wednesday it has started an investigation into possible dumping by LS Cable & System Ltd., alleging South Korea's top wire and cable maker excessively cut the price of its optical fibers.

China's Ministry of Commerce said in a statement it recently decided to launch a mid-term investigation into whether the South Korean firm eroded Chinese makers' earnings by selling non-zero dispersion-shifted fibers at below-market prices

Such fibers are used to transmit information by sending pulses of light.

LS Cable has been operating in China since December 2009, as part of the company's efforts to secure a foothold in the fast-growing market.

The firm has sought to foster its Chinese unit to become a major producer of electricity and industrial cables in China, which accounts for some 24 percent of the global cable market.

The Chinese commerce ministry said it will also investigate Korea's Optomagic Co. over alleged dumping of optical fibers.

The ministry said the amount of money involved in the case is $20 million.

Source: koreatimes.co.kr