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Korea to Begin Anti-Dumping Probe Into Japanese Stainless Steel
03/05/2010 12:00
April 29 (Bloomberg) -- South Korea, Asia’s fourth-biggest steel-producing nation, will begin an anti-dumping investigation into Japanese stainless steel plate imports after a DKC Corp. complaint.
The Korea Trade Commission will make a preliminary ruling after three months, the Ministry of Knowledge Economy said in an e-mailed statement today. A final decision will be taken after a full-scale investigation, the statement said.
DKC, South Korea’s sole maker of the product, filed an application for the probe in March, claiming it swung to an operating loss because the imports led to lower output and sales, the ministry said.
The Korean market for stainless steel plates, used in construction, nuclear power generation and desalination plants, was estimated at about 320 billion won ($285 million) in 2009, the ministry said. Japanese products accounted for 23 percent of the market, it said.
The Korea Trade Commission will make a preliminary ruling after three months, the Ministry of Knowledge Economy said in an e-mailed statement today. A final decision will be taken after a full-scale investigation, the statement said.
DKC, South Korea’s sole maker of the product, filed an application for the probe in March, claiming it swung to an operating loss because the imports led to lower output and sales, the ministry said.
The Korean market for stainless steel plates, used in construction, nuclear power generation and desalination plants, was estimated at about 320 billion won ($285 million) in 2009, the ministry said. Japanese products accounted for 23 percent of the market, it said.
By Sungwoo Park
--Editors: Tan Hwee Ann, Matthew Oakley.
To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net.
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
April 28, 2010, 8:55 PM EDT
Source: www.businessweek.com
--Editors: Tan Hwee Ann, Matthew Oakley.
To contact the reporter on this story: Sungwoo Park in Seoul at spark47@bloomberg.net.
To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net
April 28, 2010, 8:55 PM EDT
Source: www.businessweek.com
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