Korea: Trade commission recommends anti-dumping duties on Indonesian ethyl acetate

07/09/2015 12:00 - 660 Views

SEJONG, Aug. 27 (Yonhap) -- South Korea's trade commission said Thursday that it has recommended imposing punitive duties on ethyl acetate imports from Indonesia while also advising the finance ministry to extend the country's existing anti-dumping duties on imports from three other countries, including China.
Following its five-month investigation, the commission decided that price-cutting by Indonesian manufacturers of ethyl acetate has caused damage to the local industry.
The commission's recommendation is to impose punitive duties of 8.56 percent and 19.84 percent on Indonesian ethyl acetate imports for three years following such a decision by the finance ministry.
Ethyl acetate is an organic compound that is widely used in glue, ink and paint.
The local market for ethyl acetate came to 145 billion won (US$122.58 million) in 2013, with local producers accounting for about 39 percent of the total supplies. The remaining 61 percent was supplied by manufacturers in Indonesia, China, Singapore and Japan.
South Korea began imposing punitive duties on ethyl acetate imports from China, Singapore and Japan in 2008, which were once extended by three years in early 2012.
The trade commission said it has recommended another three-year extension of anti-dumping duties on imports from the three countries.
Under the commission's recommendation, imports from Singapore and Japan will be subject to punitive duties of 17.76 percent, while anti-dumping duties on Chinese imports will range from 4.64 percent to 17.76 percent.

Aug 27, 2015
Source: Yonhap