S. Korea may extend anti-dumping duties on PET film from China, India

21/06/2019 12:00 - 488 Views

South Korea's trade commission on Thursday decided to recommend the government extend anti-dumping duties on polyethylene terephthalate (PET) film imported from China and India, citing substantial damage to the local industry.

The Korea Trade Commission under the commerce ministry said it advised the financial ministry to set duties of 13.51 percent to 36.98 percent on PET film coming from the countries for the next five years.

Over the past three years, the South Korean government levied the tariffs of 7.42 to 36.98 percent imposed on such products.
PET film is used in manufacturing snack packages and materials for liquid crystal displays.

The South Korean market for PET films was estimated at around 800 billion won (US$686 million) in 2017, with products from the two countries accounting for roughly 10 percent. Locally made products took up 70 percent of the country's PET market.

June 20, 2019
Source: Yonhap