Korea to raise anti-dumping tariffs on 2 Chinese PET film firms
The logo of the Ministry of Economy and Finance is seen at Government Complex Sejong, Jan. 6. Yonhap
Korea's finance ministry said Monday it has decided to raise anti-dumping duties on polyethylene terephthalate (PET) film products imported from two Chinese companies following a reexamination.
Under the decision, duties on PET film products imported from Kanghui New Material Technology will be increased to 7.31 percent from the current 2.2 percent, while those from Tianjin Wanhua will be subject to 36.98 percent duties instead of the current 3.84 percent, according to the Ministry of Economy and Finance.
The government has imposed anti-dumping duties on Chinese PET films since May 2023, but the ministry says imports from two suppliers have recently surged in both volume and market share.
This marks the first time the government has reexamined and adjusted anti-dumping duties at the request of domestic producers since the World Trade Organization's (WTO) anti-dumping agreement was introduced in 1995, the ministry said.
PET films are widely used across various industries, including packaging, electronics and energy.