MOEF Blocks Imports of Dumped Petrochemical Products... Establishes "Anti-Dumping Team"

Preventing Market Distortions Caused by Low-Priced Imports
Protecting the Competitiveness of Domestic Companies

The Ministry of Economy and Finance announced on the 21st that it will establish an "Anti-Dumping Team" within the Tax Policy Office to respond to the increase in imports of dumped goods such as steel and petrochemical products.

2025 Dumping Duty Imposition Status

The Anti-Dumping Team will cooperate with the Trade Commission, which is responsible for investigating dumping cases, and will be in charge of reviewing the appropriateness of imposing anti-dumping duties, negotiating price agreements with foreign suppliers, and conducting post-imposition inspections. The team aims to preemptively prevent market distortion caused by low-priced imports and protect the competitiveness of domestic companies.

The Ministry explained that this measure is intended to protect Korean companies and industries amid rapidly changing external trade environments, such as the United States' reciprocal tariffs. The number of anti-dumping duty cases increased from four in 2021 to eight so far this year, and the Trade Commission is currently investigating seven cases.

The Ministry also recently revised the Enforcement Decree of the Customs Act to prevent circumvention exports resulting from global oversupply. Previously, the anti-circumvention duty provision only applied to minor modifications within the country of manufacture, but it has now been expanded to cover products routed through third countries. The Ministry stated, "The establishment of the Anti-Dumping Team is a measure to institutionally strengthen our capacity to respond to unfair trade," adding, "We will continue to implement necessary measures to protect our industries."

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