U.S. Revokes Anti-Dumping Duties on S. Korean PET Film

08/09/2011 12:00 - 412 Views

The U.S. International Trade Commission (USITC) has decided to revoke the anti-dumping duty order on polyethylene terephthalate (PET) film from South Korea.
The decision would benefit Kolon Industries Inc. and other PET film makers in Korea. Kolon’s export of PET film to the U.S. reaches $60 million a year. SKC, Honam Petrochemical Corp. and Hyosung are preparing to begin or resume their export.
PET film is a thermoplastic polymer resin of the polyester family, commonly used in synthetic fibers, beverage, food and other liquid containers, and engineering resins.
Since 2007, the U.S. government had imposed an anti-dumping duty on Korean PET film when its export prices are too low.

According to industry sources on September 5, the USITC said it voted to end its anti-dumping measure on Korean PET film. In a unanimous vote, the USITC decided that Korean PET film does not damage the U.S. industry continuously.

Kolon had actively responded to the anti-dumping measure and it expects to be paid back the tariff it paid.

Under the decision, SKC and other PET film makers will be able to export their PET film to the U.S. without special monitoring procedures.
2011.09.05 17:26:50

By Gye-man Kang
Edited by Soyoung Chung
Source: news.mk.co.kr