stainless steel plates

South Korea imposes anti-dumping tariffs of 21.62% on Chinese stainless steel plates, demonstrating its strong opposition to steel dumping. This move aims to protect the South Korean stainless steel industry from unfair competition and safeguard key sectors like shipbuilding and semiconductors.

South Korea has decided to impose anti-dumping tariffs of 21.62% on stainless steel plates imported from four Chinese companies. The decision follows a yearlong investigation after local manufacturer DK Corp. filed a formal complaint.

The Korea Trade Commission (KTC) announced on Thursday that it found clear evidence of dumping, which has severely hurt the South Korean steel industry. The affected Chinese companies include Schuang International Development Ltd., STX Japan Corp., Best Win International Co., and Jiangsu Daekyung Stainless Steel Co.

The final ruling recommends that South Korea’s finance ministry apply these tariffs for the next five years. The industry ministry confirmed the move and said the measure will help restore fair competition in the market.

The major industries in South Korea’s economy—shipbuilding, natural gas, electronics, and display manufacturing—all heavily rely on the embezzled Chinese stainless steel items. By selling below fair value, these imports disrupted local pricing and led to financial losses for domestic manufacturers.

The KTC stated that the duties are necessary to prevent “substantial” and ongoing damage to South Korea’s steel sector. This move is part of broader trade protection measures to support local industries facing unfair global competition.

South Korea makes it plain that it will not put up with unfair trade practices that jeopardise its industrial foundation by taking this action.