First Interim Review Rate Increase at Request of Korean Companies
The Trade Commission under the Ministry of Trade, Industry and Energy has decided to conduct an interim review of anti-dumping duty rates imposed on Chinese PET film and raise them to nearly 10 times the current level. This marks the first time the Trade Commission has utilized the interim review system to re-examine anti-dumping duty rates at the request of Korean companies.
The Trade Commission announced on Nov. 20 that it held its 466th meeting to deliberate and decide on anti-dumping duty imposition on Chinese PET film. The core decision involves raising the current 2.2~3.84% anti-dumping duties to 7.31~36.98%.
The PET subject to this review is polyethylene terephthalate, a petrochemical product widely used in daily life for beverage containers and packaging materials. Anti-dumping duties have been imposed since May 2023 due to intensifying low-price competition from Chinese products. However, the review process began in February this year when four domestic companies including Kolon Industries and Hyosung Chemical requested an increase in anti-dumping duty rates. The decision is considered significant as the government has resorted to anti-dumping duty review as a measure to prevent Chinese low-price dumping.
The Trade Commission also held a public hearing on Nov. 20 for the sunset review of anti-dumping duties on Saudi butyl glycol ether. A sunset review is a procedure to determine whether to extend the application of existing anti-dumping duties after the original imposition period expires. Saudi butyl glycol ether is currently subject to a 43.58% anti-dumping duty, and this sunset review is examining whether to raise and apply it at 47.55%. The sunset review results are expected to be finalized in the first half of next year. Butyl glycol ether is a chemical product used in cleaning agents and photosensitive materials.
Additionally, the Trade Commission conducted a public hearing to determine the final anti-dumping duty rate on Thai fiberboard. Fiberboard is a panel processed to a thickness of 5mm or less by separating and extracting fiber from wood or wood products. Anti-dumping duties on Thai fiberboard are also likely to be finalized in the first half of next year. In the meantime, the provisional duties (11.92~19.43%) confirmed on Sept. 25 will apply.