South Korea is seeking to end measures limiting exports of cold-rolled steel sheets to Mexico, the South Korean Ministry of Trade, Industry and Energy said Monday.

The ministry made its case at a sunset review held by the Mexican Trade Commission August 2, as part of a South Korean delegation that also included Posco and Hyundai Steel.

World Trade Organization regulations require member countries to review antidumping measures after every five years.

In 2013, Mexico started an antidumping probe into South Korean cold rolled steel plates and considered imposing tariffs as high as 60.4%, but dropped them and opted for company-specific import quotas instead.

The quotas stood at 410,000 mt in 2014, 465,000 mt in 2015, 500,000 mt in 2016, 565,000 mt in 2017 and 590,000 mt in 2018, the ministry said.

In May, Posco petitioned for its import quotas to be raised from 547,500 mt in 2019 to 585,000 mt in 2020, 606,000 mt in 2021, 633,000 mt in 2022 and 677,000 mt in 2023.

The ministry noted that no dumping occurred between 2013 and 2018 and there is no risk of it taking place.

As about 80% of the imported South Korean cold-rolled steel sheets are used in the Mexican automobile industry, there is no possibility that the domestic steel industry will be harmed, the ministry claimed.