Starting Next Year, Rapid Determination of Circumvention Dumping Goods... Up to 4 Months Reduction
Ministry of Trade, Industry and Energy 'Anti-Circumvention Dumping System' Corporate Briefing Session
The Trade Commission of the Ministry of Trade, Industry and Energy will hold a briefing session for companies on the main contents of the newly introduced circumvention anti-dumping system at the Korea International Trade Association on the 6th.
This briefing session was attended by industries currently subject to anti-dumping duties, such as steel, textiles, and glass. The Trade Commission explained the changes to the existing anti-dumping system through the recent revision of the Customs Act (promulgated on December 31 last year), as well as detailed information on future application and investigation procedures.
Lee Jae-min, Chairman of the Trade Commission, evaluated this revision of the Customs Act as a timely measure to remedy damages to domestic companies amid the recent intensification of global protectionist measures. The newly introduced circumvention anti-dumping system shortens the period by up to four months compared to the existing original investigation, and defines minor changes within the scope where essential characteristics do not change within countries subject to anti-dumping duties as circumvention dumping. Although not present in the existing investigation process, the Trade Commission can also conduct ex officio investigations in special circumstances. Going forward, the Trade Commission will continue to improve the system to prevent damage to domestic industries caused by unfair trade practices.
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The revised Customs Act is scheduled to take effect on January 1 next year, and the revision of enforcement rules is currently underway. The Trade Commission plans to organize related regulations, including the 'Detailed Operating Regulations on Application, Investigation, and Determination of Anti-Dumping and Countervailing Duties' and investigation manuals, in the second half of this year to support the implementation of the system.
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