Korea Trade Commission (KTC) on Thursday recommended the government impose anti-dumping duties of up to 60.95 percent on polyethylene terephthalate (PET) films imported from Taiwan, Thailand, and the United Arab Emirates over the next five years.
KTC’s move comes after Korean PET film makers including SKC, Toray Advanced Materials Korea Inc., Kolon Industries Inc., and Hyosung asked the quasi-judicial body to launch an investigation into PET film imports from the three foreign countries in February, last year. After nearly a year-long investigation, the KTC concluded that PET film products from Taiwan, Thailand, and the UAE were being imported at below normal prices, possibly causing damages to domestic peers.
PET films are minaly used in making snack packages, adhesive tapes and solar back sheets, and as material for liquid crystal displays. Those from the three foreign countries account for about 10 percent in the country’s entire PET film market that was estimated at 1 trillion won as of 2016.
Once KTC notifies its final investigation result to the government, the Ministry of Strategy and Finance will have 12 months from the investigation launch date - which is April 17, 2017 - to decide whether to impose anti-dumping duties.
By Ko Jae-man and Lee Eun-joo
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