South Korea will take measures to prevent circumvention and dumping related to steel imports

Recently, the Ministry of Trade, Industry and Energy of South Korea stated that in response to the crisis in the steel industry caused by trade barriers and unfair imports, South Korea will take measures to prevent the circumvention of anti-dumping measures in order to protect the local steel industry.

To prevent the dumping avoidance behavior of steel and aluminium (such as evading anti-dumping duties by changing product types, keeping tariff numbers or transshipment through third countries, etc.), the South Korean government plans to revise customs regulations to allow the Korea International Trade Commission to investigate the behavior of traders evading anti-dumping duties by transshipment through third countries.
In addition to addressing the issue of tariff evasion, the South Korean government also plans to intensify the supervision and law enforcement of imported steel. The General Administration of Customs of South Korea will establish a dedicated working group for strict inspections and increase the supervision frequency from twice a year to four times a year. While taking trade defense measures, the Ministry of Trade, Industry and Energy of South Korea will improve practical and feasible solutions to maintain the competitiveness of South Korean steel enterprises.

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