Korea to extend anti-dumping duties on Japanese steel platesKorea's Ministry of Economy and Finance said Tuesday it will extend anti-dumping duties on Japanese stainless steel plates for three years.
Korea has imposed the 13.17 percent anti-dumping tariff on the Japanese products since 2011, citing substantial damage to the local industry.
The plates are widely used in different industries, including the petrochemical, shipbuilding and chip segments.
The tariff mainly targets those from Japan's Nippon Steel Stainless Steel, Nippon Yakin Kogyo and JFE Steel.
The local market of such plates was estimated at 300 billion won ($233 million) in 2018.
More in Economy
June 1 property tax increases are happening as planned
It's a good time to give away residences
Unemployment line adds insult to injury for the jobless
Number of part-time workers hits record high