The World Trade Organization's (WTO) Dispute Settlement Body (DSB) established a panel on June 22, 2016, to mediate in a dispute concerning anti-dumping duties applied by South Korea on imports of pneumatic transmission valves from Japan.
South Korea has been imposing anti-dumping duties of between 11.66 percent and 22.77 percent with a validity of five years on imports of pneumatic transmission valves from Japanese companies since August 19, 2015.
Japan considers South Korea's imposition of anti-dumping duties to be inconsistent with the WTO Anti-dumping Agreement (Agreement on Implementation of Article VI of the General Agreement on Tariffs and Trade 1994) because of flaws in Korea's determination of an injury and a causal relationship, as well as flaws in its investigation procedure. It therefore requested the DSB, for the second time, to establish a panel to examine this matter.
South Korea said it regretted Japan's second request for the creation of a panel, noting its "best efforts" to resolve the dispute through consultations with Japan. South Korea noted that dumped imports of pneumatic transmission valves from Japan had increased and substantially injured Korea's domestic industry. It argued that the anti-dumping measures were in full compliance with its WTO obligations and said it was therefore prepared to explain and defend them before a panel.
China, the European Union, Norway, Turkey, and the United States reserved their third-party rights to participate in the panel's proceedings.
Pneumatic transmission valves are used in equipment in semiconductor or automobile manufacturing plants.

Source: Tax News