South Korea to Impose Antidumping Duties on Chinese Butyl Acrylate
Quick Look
- South Korea's trade watchdog, the Korea Trade Commission (KTC), will recommend the finance ministry impose antidumping duties of 8.32% to 19.17% on Chinese butyl acrylate, citing harm to the domestic industry.
- Provisional duties are already in effect, and investigations into other Chinese imports are ongoing.
AI-generated summary
Why It Matters
The Korea Trade Commission concluded that Chinese butyl acrylate imports were dumped at unfairly low prices, causing damage to South Korea's domestic industry during its 2024 investigation.
SEOUL, July 23 (Yonhap) -- South Korea's trade watchdog said Thursday it will ask the finance ministry to impose antidumping duties on Chinese butyl acrylate after concluding that the imports had harmed the domestic industry.
The Korea Trade Commission (KTC) will recommend the slapping of antidumping duties ranging from 8.32 percent to 19.17 percent on butyl acrylate, a key raw material used in paints and adhesives, the Ministry of Trade, Industry and Energy said in a press release.
"The commission found that imports of Chinese butyl acrylate had been dumped at unfairly low prices during its investigation covering 2024, causing damage to the domestic industry," a ministry official said by phone.
In its preliminary ruling issued on Feb. 12, the commission recommended provisional antidumping duties of 9.53 percent to 19.17 percent, which have been in effect since April 22, the ministry said.
Separately, the commission has launched investigations into alleged dumping by Chinese producers of tin mills, used in food and beverage cans, and polyvinyl chloride (PVC) suspension resin, used in pipes and industrial materials, in the South Korean market.
Final decisions on the two investigations are expected out in April next year.
What to Watch
AI outlook — possibilities, not facts
Final decisions on alleged dumping by Chinese producers of tin mills and PVC suspension resin will be released.
Likely · Within months
Open Questions
- What will be China's official reaction to the duties?
- What is the specific financial impact on affected South Korean companies?
- Will the other ongoing investigations also result in duties?
