South Korea renews duties on flat-rolled stainless steel from China, Indonesia, Taiwan for 5 years

South Korea has renewed existing antidumping duties on flat rolled stainless steel from China, Indonesia and Taiwan for five years, the Ministry of Strategy and Finance said April 25.

The antidumping rate starts from as low as 7.17% to as high as 25.82%, it said, unchanged from previous duties that ran from Sept. 15, 2021, until Sept. 21, 2024.

The initial duties stemmed from an investigation that began in September 2020 after local steelmaker POSCO alleged imports had damaged the domestic industry.

“It was determined that if the imposition of antidumping duties is terminated, there is a risk that dumped imports and resulting damage to the domestic industry may continue or recur,” the ministry said.

The products affected fall under the subheadings 7220.12.1090, 7220.12.9000, 7220.20.1010, 7220.20.1090, 7220.20.9000, 7220.90.1010, 7220.90.1090 and 7220.90.9000 of the HS (Harmonized Commodity Description and Coding System).