S. Korea considers extending antidumping duties on Chinese glass

17/01/2014 12:00 - 460 Views

SEJONG, Jan. 16 (Yonhap) -- South Korea's trade commission on Thursday said it will consider extending antidumping duties imposed on Chinese float glass, citing possible damage to local manufacturers.

The Korea Trade Commission has decided to launch a review on an extension of the antidumping duties on Chinese float glass, which are set to expire on May 23, 2014," the commission said in a press release.

The decision will lead to a formal investigation that may last up to six months.

Float glass is a type of flat glass that is used in buildings and home appliances, among other applications.

The existing antidumping duties of 12.04-36.01 percent were imposed in May 2011, about seven months after the initial duties of a maximum 36.01 percent expired in October 2010.

As of 2012, the size of the local market for float glass stood at 386 billion won (US$362.8 million) with 74.7 percent of the total supplied by local manufacturers.

Chinese products currently subject to the antidumping duties maintained a combined market share of 4.8 percent as of the end of 2012, the commission said.

Source: Yonhap