Gov't to impose anti-dumping tariffs on PVC paste resin from 4 European nations

Containers are stacked at a port in Pyeongtaek, Gyeonggi Province, July 1. Yonhap

Korea's finance ministry said Friday it has decided to impose anti-dumping tariffs on polyvinyl chloride (PVC) paste resin products from four European nations starting next month on grounds they were imported below fair prices.

Under the decision, Korea will impose anti-dumping tariffs of 25.79 percent to 31.55 percent from next month to August 2031 on the products imported from Germany, France, Norway and Sweden, according to the Ministry of Finance and Economy.

PVC paste resin refers to fine-particle resin widely used in interior building materials and other industrial goods, such as wallpapers and gloves.

The decision came after Korean chemical firm Hanwha Solutions filed a complaint against a number of European exporters in July last year.

The country's trade commission launched an investigation the following month and recommended the finance ministry impose anti-dumping duties in June of this year.

"The government plans to continue monitoring products imported at low prices that cause disruptions in the domestic market, protect our industries from dumping activities and establish a fair competition environment," the ministry said.