Trade Commission Recommends Imposing Up to 10.65% Anti-Dumping Duties on Vietnamese Plywood

[Asia Economy Reporter Kim Bo-kyung] The Trade Commission of the Ministry of Trade, Industry and Energy has decided to impose anti-dumping duties of up to 10.65% on imported plywood from Vietnam.

On the 16th, the Trade Commission held its 399th meeting and preliminarily ruled positively, stating that there is sufficient evidence to estimate that Vietnamese plywood has been dumped into the domestic market, causing substantial damage to the domestic industry. It decided to recommend the Minister of Strategy and Finance to impose provisional anti-dumping duties ranging from 9.18% to 10.65%.

The Minister of Strategy and Finance will decide whether to impose anti-dumping duties within one month from the date the preliminary investigation results are submitted.

Additionally, it was judged that the damage caused to the domestic industry by the import of plywood from Vietnam at prices below normal value is not insignificant, and investigations for the final determination, including on-site inspections and public hearings, will continue.

The investigated products are used for various purposes such as formwork pouring, interior and exterior construction materials, furniture, interior decoration, and export packaging boxes. The domestic market size was approximately 900 billion KRW as of 2018, with Vietnamese products holding a 40-45% market share.

During the investigation period from 2016 to the first half of 2019, the volume of imports from Vietnam increased, raising the domestic market share. Consequently, damages such as decreased sales volume of domestic like products, market share decline, employment reduction, decreased operating rates, and profit decline occurred.

The Trade Commission plans to conduct a full investigation over three months and make a final decision on whether to impose anti-dumping duties.

This content was produced with the assistance of AI translation services.