Arab Today, arab today south korea finds chinese plywood in violation of antidumping law
Last Updated : GMT 17:54:52
Arab Today, arab today
Arab Today, arab today

South Korea finds Chinese plywood in violation of antidumping law

Arab Today, arab today

Arab Today, arab today South Korea finds Chinese plywood in violation of antidumping law

Seoul - Yonhap

South Korea\'s trade commission on Thursday made a preliminary decision that Chinese suppliers were causing damages to local manufacturers of plywood by underselling their products. The decision by the Korea Trade Commission (KTC) only follows a preliminary investigation that began in November. Still the commission has decided to recommend imposing punitive duties of 3.75 percent to 35.7 percent on Chinese plywood sold here, it said. Whether to actually impose antidumping duties will be decided by the finance ministry. Plywood is a board usually made by attaching thin sheets of wood together to form a thick one, and has many uses. The local market for the material reached about 650 billion won (US$583 million) last year with South Korean manufacturers supplying about 27 percent of the total and Chinese manufacturers about 37 percent, according to the trade commission. \"The complaining business claims its sales and profitability have worsened due to dumping activities by Chinese suppliers,\" KTC said in a released statement. The KTC\'s preliminary decision will soon be followed by a formal investigation that can last up to five months.

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