South Korea Imposes Anti-Dumping Duties on Egyptian White Portland Cement: Ministry of Industry






South Korea Imposes Anti-Dumping Duties on Egyptian White Portland Cement

Introduction

South Korea’s Ministry of Industry announced on Thursday that Seoul has decided to impose anti-dumping duties on white Portland cement imported from Egypt and submit a corresponding recommendation to the Ministry of Finance.

Details of the Decision

The Korean Ministry of Industry said that after preliminary review procedures, the Korea Trade Commission has decided to submit a recommendation to the Ministry of Finance to impose a temporary duty of 72.23% on white cement coming from Egypt to prevent potential damage from these imports into the country’s local industry, and she will conduct further investigation.

Background

It is noteworthy that the investigation was carried out at a time when local cement company Union filed a lawsuit in March last year against Egyptian cement company Royal Minya and Albatross International Cement Trading Company, it complained that their cheap imports had a negative impact on its business and on the South Korean cement industry.

Next Steps

The Treasury Department is expected to make a decision by October next year. The Korea Trade Commission under the Ministry of Trade, Industry and Energy will conduct further investigation to determine the final tariff rates.

Impact on South Korea’s Market

It is noteworthy that Union is the only manufacturer in South Korea of white Portland cement, which is used in general construction and finishing works. Egyptian white cement will also account for 10%, or 10,000 tons, of South Korea’s market share in 2022, according to the ministry.

Source

Source: Yonhap


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