Korea Trade Commission to Impose Punitive Duties on Chinese Plywood
OREANDA-NEWS. August 26, 2013. South Korea's trade commission said it has decided to levy anti-dumping tariffs on imported Chinese plywood as the importers were underselling their products.
The decision by the Korea Trade Commission will impose punitive duties of 2.42% to 27.1% on Chinese plywood sold here, it said. Whether to actually impose anti-dumping duties will be decided by the finance ministry.
South Korea's plywood market reached around 650 billion won (USD58 million) as of 2012. Local firms took up 27% of market share, while Chinese companies accounted for 38%.
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