South Korea to impose 6% antidumping duty on PET film from Japan

08-Sep-14

KTC-South Korea's trade watchdog announced it will impose an antidumping tariff on polyethylene terephthalate (PET) film imports from Japan, as per Platts. The 5.95% duty will be imposed for the next five years as local manufacturers are being undercut by the cheaper imports, the Korea Trade Commission said in a statement. The probe was launched in December 2013. "KTC concluded that there exists real damage to the local industry from the dumping of Japanese PET film and decided to recommend antidumping tariffs of 5.95% on Japanese imports over the next five years," the commission said in a statement. The punitive duties will take effect after the Finance Ministry approves its decision. South Korea's market for PET film was worth about Won 380 billion (US$371 million) in 2013, with 17% of supply sourced from Japan, according to the Ministry of Trade, Industry and Energy.