South Korea plans to impose anti-dumping duty on polyester FDY originated from China

Seoul, November 18 (Yonhap)-the Trade Committee of the Ministry of Industry, Trade and Resources of South Korea held its 418th meeting on Nov 18 and proposed to impose an anti-dumping duty of 3-5 years on polyester fully drawn filament yarn made in China, with a duty rate of 3.95%～10.91%. The formal tax announcement shall be made public after the decision of the Ministry of Finance of South Korea.

On January 27th, 2021, South Korea launched an anti-dumping investigation against polyester fully drawn filament (FDY), involving goods under tariff No. 5402.47.9000; during the dumping investigation period from July 1, 2019 to June 30, 2020, China exported about US $466 million to South Korea. On June 17, the Trade Committee of the Ministry of Industry, Trade and Resources of South Korea made an anti-dumping preliminary ruling on the fully drawn polyester filament originating in China and ruled that the sales price of the fully drawn polyester filament imported from China was lower than the normal price. The substantial damage to the Korean industry is not negligible.