Korea imposes 72% temporary anti-dumping duties on Egyptian white cement
Headquarters of Ministry of Economy and Finance in Sejong is seen in this undated file photo provided by the ministry. Yonhap
Korea has begun imposing temporary anti-dumping duties of 72.23 percent on white Portland cement imported from Egypt, officials said Friday.
The finance ministry began levying the duties on white cement from Egypt on Wednesday to be effective for four months after the Korea Trade Commission (KTC) under the industry ministry announced its preliminary anti-dumping findings against the imports and recommended the imposition in September.
The anti-dumping deposit is meant to prevent potential damage from the imports to the local industry, while it carries out an additional probe, according to ministry officials.
The probe came as domestic cement producer Union filed a complaint in March against Egypt's Royal El Minya Cement and Albatros International Cement Trading, complaining that their cheap imports have negatively affected its business and the cement industry in Korea.
The volume of dumping imports surged to 9,240 tons in 2022, accounting for around 10 percent of the Korean market, from around 1,000 tons the previous year.
The final tariff rates will be determined after the KTC wraps up the investigation, the officials said.
Union is Korea's only manufacturer of white Portland cement, which is used for general construction and decoration. (Yonhap)