Anti-dumping Duty
The Korea Trade Commission decided to impose an anti-dumping duty of up to 10.21 percent on offset printing plates made in China over the next five years.
The commission said that the organization finally decided to impose an anti-dumping duty rate of 5.86% to 10.21% on offset printing plates from China which was subject to provisional dumping prevention tariffs (5.73% to 10%) and will suggest that to the Minister of Strategy and Finance do that in the 366th meeting held on May 19.
An offset printing plate is an aluminum plate coated with a photosensitive material and used to produce printed materials. The Korean offset printing plate market is estimated at 130 billion won and Chinese products account for a 70% market share. Korean products occupy around 20% of the market.
The decision was made after Jeil C&P, a small Korean company, filed a request for an investigation in August of last year as low-priced imports from China surged, giving deteriorating business conditions to the company. An eight-month investigation was conducted.
The Korea Trade Commission concluded that Korean companies really suffered from Chinese imports as prices of domestic products fell due to an increase in dumping-like imports of Chinese products during the investment target period from 2013 to 2015. In particular, the commission deemed the antidumping measures inevitable because damage to the Korean offset printing plate industry was expanding, which led three out of four Korean producers to shut down their production or enter workout processes.