Regulations on the Korean Imports More Severe

The regulations imposed by other countries on importing Korean products are becoming more and more severe.
According to the import regulations of advanced countries published by the Korea Trade Association on May 7, the number of lawsuits filed by other countries against Korean products in 1998 , including allegations of dumping, amounted to 27, up 50 percent from 1997.
Steel products had the most suits filed against it at 11 cases, which accounted for 40. 7 percent of all lawsuit. Polyesther material had the second most at four followed by tires and synthetic rubber with two each.
The rise in legal actions against Korean steel products is due to a sharp increase in their exports to advanced countries.
Korean steel products have retained competitve prices because of the undervalued Korean currency.
The number of import regulations imposed on Korean products as of the end of last year totaled 74 cases, which rose 25.4 percent from the previous year.
According to countries, the United States has the most lawsuits with 19 then the EU with 10. Japan and Canada have 7 and 6, respectively.
Jangsoo Seo:jsbee@joongang.co.kr