The Korea Trade Commission (KTC) has recommended that the Ministry of Economy and Finance (Moef) impose anti-dumping duties on polyethylene terephthalate (PET) resin from China, with an implementation period of five years.
The affected products are classified under South Korea's tariff code 3907.61.0000. KTC recommended a rate ranging from 7-7.98pc, with this decision in line with market expectations. Chinese producer Jiangsu Ceville applied for the exclusion of recycled PET from the scope of the investigation, but the South Korean government ultimately denied this request.
Moef in July announced the decision to impose provisional anti-dumping duties on the affected products for a period of four months, effective until 29 November.
This came after KTC issued a positive preliminary ruling that recommended the imposition of provisional anti-dumping duties on the involved enterprises. KTC had started an anti-dumping investigation into the PET resin produced in China on 12 January.
South Korean company TK Chemical had filed an anti-dumping investigation request with KTC in November 2023, citing losses to the relevant domestic industry because of the dumping of Chinese PET resin.
