S.Korea to levy anti-dumping duty on Japan's pneumatic transmission valves

21/01/2015 12:00 - 534 Views

SEOUL, Jan. 21 (Xinhua) -- South Korea is to levy anti-dumping duties on pneumatic transmission valves imported from Japan to prevent the unfairly undercut Japanese products from denting local companies, the Trade Ministry said Wednesday.

The Korea Trade Commission recommended that an anti-dumping duty of 11.66-23.97 percent be imposed on the Japanese products for five years. The recommendation was made to the Finance Ministry, which has a right to come to a final conclusion.

A punitive duty of 11.66 percent would be levied on SMC Corp, with a 23.97 percent duty to be imposed on CKD Corp and all other Japanese companies.

The pneumatic transmission valve is a part generating mechanical motion with compressed air that is used in cars, electronic products and general machinery.

As of 2013, the domestic valve market amounted to 64.7 billion won (60 million U.S. dollars), with 73 percent of the total dominated by Japanese projects.

The trade commission launched the anti-dumping probe in February 2014 after local companies said they were hurt by Japanese makers'undercutting practices.

Source: Xinhua