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Number of Import Restrictions on S. Korean Products is Increasing Rapidly
Mounting Import Restrictions
Number of Import Restrictions on S. Korean Products is Increasing Rapidly
  • By Jung Suk-yee
  • April 11, 2018, 05:00
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The number of import restrictions imposed on South Korean products by foreign governments totaled 198 as of March 29 this year.
The number of import restrictions imposed on South Korean products by foreign governments totaled 198 as of March 29 this year.

 

It has been found that the number of import restrictions imposed on South Korean products by foreign governments totaled 198 as of March 29 this year. The information has been disclosed to the public since January 2015 and the number had been 174 at that time.

The number rapidly rose especially in 2017 and this year. The number increased by 17 to 191 from January 2015 to January 2017. This was led by the United States.

Back in January 2015, India imposed 28 import restrictions on South Korean products, followed by the United States (22), China (15) and Turkey (15). Until the end of last month, the United States increased the number of its import restrictions on South Korean products by no less than 18 whereas India and Turkey increased theirs by only one and China’s remained the same despite its THAAD retaliation.

In the meantime, Australia, Turkey, China and the EU initiated their investigations last month with regard to A4 paper, acrylic boards, phenol, and steel products imported from South Korea, respectively. The 198 import restrictions include 92 on metal and steel products and 59 on chemical products.