On January 18, the Korea Trade Commission decided to request the Ministry of Strategy and Finance to impose 3.67% to 60.95% dumping prevention tariffs on PET films from Taiwan, Thailand and the UAE for five years in its 373rd meeting.
Taiwanese, Thai and UAE PET films have been imposed with a tariff rate of 3.29% to 60.95% since November 1 of last year. A dumping rate of 8.68% was imposed on Taiwanese companies’ PET film while 3.71%, 3.67%, and 3.68% dumping rates on Eni JP, Ployplex and other companies of Thailand, respectively. Dumping rates on UAE companies were 7.98% on Flex and 60.95% on JBF. PET film is widely used in many fields of our lives such as packaging (snack packaging), industrial (solar power generation back sheets and adhesive tapes), optical products (LCDs and PDPs) and graphics. The Korean PET film market was estimated at 1 trillion won (about 290,000 tons) in 2016, and the above-mentioned companies of the three countries are enjoying a share of about 10% of the Korean PEF film market.
The Korea Trade Commission conducted a fair investigation under the WTO anti-dumping agreement and customs legislation and concluded that products imported from these countries were imported below their normal prices. The committee's decision is that such imports damaged or may damage Korean products such as lowering prices of Korean products and profits of Korean companies.
When the Korea Trade Commission notifies the results of the final decision, the minister of strategy and finance will decide whether or not to levy anti-dumping duties within 12 months from the commencement date of the investigation (April 17, 2017).