South Korea Imposes Urgent Temporary Anti-Dumping Duties on Chinese Petroleum Resins Effective Immediately

On February 21, 2025, South Korea's Ministry of Economy and Finance announced Notice No. 2025-5, imposing temporary anti-dumping duties on petroleum resins originating from mainland China and Taiwan for a duration of four months. The tax rates, as detailed in the accompanying table, range from 4.55% to 7.55% for products classified under South Korea's tariff code 3911.10.1000. These measures will remain effective until June 20, 2025. Notably, C9 petroleum resins with a softening point exceeding 130°C are exempt from these temporary duties.

This action follows the initiation of an anti-dumping investigation by the Korea Trade Commission on August 2, 2024. The investigation concluded with a positive preliminary ruling on December 19, 2024, recommending that the Ministry of Economy and Finance implement the temporary anti-dumping duties on the relevant products.

This decision highlights South Korea's commitment to protecting its domestic industry and addressing unfair trade practices. Companies exporting petroleum resins from China and Taiwan must now navigate these new financial challenges as the South Korean market adjusts to the updated trade landscape.

The detailed table of the initial tax rates imposed on Chinese petroleum resins is provided for reference, indicating the specific duties applicable to various manufacturers.