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Korea plans antidumping tariffs on imports from China, Taiwan

Published: 19 Dec. 2024, 18:34

Kolon Industries' hydrocarbon resin plant[YONHAP]

Korea's trade watchdog made a preliminary decision Thursday to impose antidumping tariffs on hydrocarbon resin products from China and Taiwan after a domestic company claimed cheap imports from the two countries were damaging the domestic industry.

Under the decision, the Korea Trade Commission said it will ask the finance ministry to impose antidumping tariffs ranging from 4.45 percent to 18.52 percent before a final verdict is delivered.

The commission launched its investigation in August after Kolon Industries filed a complaint regarding damage caused by cheap imports from 2020 to 2023.

Hydrocarbon resin, also known as petroleum resin, is a material processed from by-products of the cracking process of naphtha, which serves as a key raw material in both industrial and general consumer goods.

Korea, meanwhile, decided to launch antidumping investigations into sodium dithionite from China and particle board from Thailand.

Sodium dithionite is used as a bleaching and decolorizing agent in producing chemical and pharmaceutical products. Particle boards are used in manufacturing various wood products, including furniture.

Yonhap