Today, the Cabinet enacted a Cabinet Order relating to anti-dumping duties on hot-dipped galvanized steel wire originating in the Republic of Korea and the People’s Republic of China.

1．Background

The Ministry of Economy, Trade and Industry (METI) and the Ministry of Finance (MOF) started an investigation on June 14, 2021, to determine the necessity of imposing an anti-dumping duty on hot-dipped galvanized steel wire originating in the Republic of Korea and the People’s Republic of China. On November 24, 2022, considering the results of the investigation, the Council on Customs, Tariff, Foreign Exchange and Other Transactions (the Trade Remedy Subcommittee, the Customs and Tariff Committee) reported that it would be appropriate to impose anti-dumping duties on hot-dipped galvanized steel wire originating in the Republic of Korea and the People’s Republic of China* for five years (The rates of the anti-dumping duties: 9.8% - 41.7%).

*Note: Excluding the regions of Hong Kong and Macao.

2．Outline of the Cabinet Order

The objective of the Cabinet Order is to impose anti-dumping duties on hot-dipped galvanized steel wire originating in the Republic of Korea and the People’s Republic of China, since the investigation, carried out upon the receipt of the application requesting the imposition of an anti-dumping duty, showed the fact of the import of the dumped product, the fact of the material injury, etc., to the domestic industry caused by such import, and that therefore the domestic industry needed to be protected.

3．Next Steps

The Cabinet Order will be made public on December 7, 2022, and anti-dumping duties shall be imposed on hot-dipped galvanized steel wire originating in the Republic Korea and the People’s Republic of China from December 8, 2022, to December 7, 2027.

Source: Ministry of Economy, Trade and Industry