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Korea levies duty on polyester POY from China & Taiwan
25
Jul '12
South Korea’s Finance Ministry has announced that it will extend anti-dumping tariffs on imports of polyester filament partially oriented yarn (polyester POY) from China and Taiwan for a further period of two years to protect domestic manufacturers.
 
Anti-dumping duties up to 6.26 percent will be levied on polyester POY from the two countries beginning July 25, 2012, the Ministry of Strategy and Finance said.
 
In May this year, the Korea Trade Commission (KTC) recommended re-imposing duties ranging from zero to 6.26 percent on imports of polyester POY, based on a probe into unfair prices quoted by exporters of polyester POY from China and Taiwan.
 
The probe was conducted by the KTC after receiving complaints from Seong-an Synthetics and TK Chemical Corp.
 
The South Korean Government had earlier in January 2009 imposed duties ranging between 2.97 to 6.26 percent on polyester POY imports from both China and Taiwan. 
 
As per the latest announcement, polyester POY manufactured by Hyosung Chemical Fibre Jiaxing in China would attract zero tariffs, while polyester POY produced by all other Chinese and Taiwanese companies would be subject to an anti-dumping duty of up to 6.26 percent.
 
Polyester POY is a thin, long polyester yarn that is extensively used in manufacturing of fabrics.
 

Fibre2fashion News Desk - India


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