The Korean Ministry of Strategy and Finance (MOST) has decided to extend the temporary anti-dumping duty on Ferro-Silico-Manganese alloys (HS code: 7202.30.0000) imported from Vietnam, India and Ukrina until November 29, 2017.
Prior to extension of temporary anti-dumping duty, the MOSF issued a notice of temporary anti-dumping duty on this product imported from the three countries from May 31, 2017 to September 29, 2017.
The temporary anti-dumping duty rate applied for Vietnamese manufactures/exporters was 7.48 per cent.
On December 07, 2016, the Korean Trade Commission (KTC) initiated anti-dumping investigation against this product under Article No. 60.3 of Customs Code of Korea. The plaintiffs were Dongbu Metal, Simpac Metal, Simpac Metalloy and Taekyung Industrial.
Accordingly, the KTC determined that there was enough evidence of anti-dumping practices and substantial damages to the Korean industry.
Based on the conclusion, on September 25, 2017 the KTC proposed that the MOSF should impose official anti-dumping duty on the manufacturers/exporters from the three countries at rates of 4.06 - 19.06 per cent. The MOSF will come to a final conclusion on whether imposition of anti-dumping duties on this product is necessary or not.
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Enterprises are advised to promptly assess and evaluate the impact of the changes in the newly-issued to ensure timely compliance in the upcoming tax finalization period.
