South Korea will extend anti-dumping duties on polyester filament partially oriented yarn (polyester POY) imported from China's mainland and China's Taiwan in a bid to protect local manufacturers.
Anti-dumping tariffs ranging from zero to 6.26 percent will be imposed on polyester POY imported from China's mainland and Taiwan for two years starting Wednesday, according to the Ministry of Strategy and Finance.
Polyester POY is a long, thin polyester yarn polymerized with terephthalic acid and mono ethylent glycol. The yarn is widely used to make clothing, sofa, curtain and interior materials of automobiles.
The Korea Trade Commission recommended re-imposing anti-dumping duties to the finance ministry after local companies requested the extension of the duties for protection from cheap imports. The previous anti-dumping tariffs were imposed for three years since January 2009.
Zero tariffs will be imposed on the polyester POY manufactured by Hyosung Chemical Fiber Jiaxing in China, but punitive duties of 6.26 percent will be slapped on products made by all other producers in China's mainland and Taiwan.