South Korea Decides to Impose Anti-Dumping Duties of Up to 7.98% on Imports of PET Resin from China

At a meeting held by the Trade Commission of the Ministry of Trade, Industry and Energy on October 17, after in-depth discussion and deliberation, the Commission finally decided to submit a proposal to the Minister of Strategy and Finance to impose anti-dumping duties on polyethylene terephthalate (PET) resin imported from China. According to the proposal, the anti-dumping duties would be set at a rate between 7 percent and 7.98 percent, and the measures would be implemented for up to five years.

This decision is based on the anti-dumping investigation initiated by the Korea Trade Commission on January 12, 2024 against PET resin or polyethylene terephthalate resin made in China. After months of investigation and evaluation, the Korea Trade Commission made a preliminary positive ruling on May 30, recommending that the South Korean Ministry of Strategy and Finance impose provisional anti-dumping duties on the companies involved. Subsequently, the South Korean Ministry of Strategy and Finance issued a notice on July 30, announcing the imposition of provisional anti-dumping duties on the products involved for a period of four months, and the temporary measure will be valid until November 29, 2024. The Korean tax code of the product involved is 3907.61.0000.