South Korea proposes anti-dumping tariff on Chinese PET

South Korea’s Ministry of Trade, Industry and Energy has proposed an anti-dumping tariff of 7-7.98% on Chinese polyethylene terephthalate (PET) resin for the next five years, local media sources reported. This decision was announced during the 453rd Trade Committee meeting, where officials concluded that domestic industries are suffering due to the impact of dumped PET imports from China.

The investigation was initiated in response to a request from domestic company TK Chemical, which reported in late 2023 that Chinese companies were exporting PET resin to Korea at significantly low prices. In response, the Trade Committee started a preliminary investigation and determined that these imports affected the domestic industry.

The Korea Trade Commission launched an anti-dumping investigation on PET imports from China at the 444th Trade Committee Meeting on January 11.