On September 17 2020, the Korean Trade Commission determined that Vietnam-made plywood had anti-dumping actions finally
Yonhap News Agency, Seoul, September 17 - The Trade Commission under the Ministry of Trade, Industry and Energy of Korea finally concluded on the 17th that there was dumping of plywood produced in Vietnam, causing losses to Korean industries. Accordingly, the committee will recommend that the Minister of Planning and Finance impose a 9.18-10.65% anti-dumping tariff on Vietnamese plywood within the next five years.
During this period, the Trade Commission conducted written investigations and on-site inspections of Korean manufacturers, demanders, and suppliers in accordance with the WTO’s anti-dumping agreement and tariff law, and finally determined that the import price of Vietnamese products was lower than the normal price, which led to a decline in the market share of Korean products and employment Decrease, operating profit decreased.
Therefore, the Trade Commission will notify the Minister of Planning and Finance of the above results, and the Finance Minister must decide whether to impose anti-dumping duties on it within 12 months from the investigation start date (December 3, 2019) (can be extended for 6 months) .
As of 2018, the market size of Korean plywood is 900 billion won, of which Vietnamese products account for more than 40% of the market.
