South Korea plans to initiate probe on import of Chinese and Taiwanese polyester yarn to find out whether the removal of anti-dumping duties on them will hurt the domestic industry.
The decision of the Korea Trade Commission to begin a probe on import of polyester filament partially oriented yarn (POY) from China and Taiwan was taken after two local manufacturers sought extension of anti-dumping measures.
POY is used in the production of garments and other woven products. Anti-dumping tariffs of 2.97 to 6.26 percent were imposed on Chinese and Taiwanese POY products for three years beginning January 21, 2009.
Two domestic POY producers have claimed that the end of anti-dumping measures in January next year will harm them and have submitted to the Trade Commission a data showing possibility of manufacturers from these two countries selling at lower prices.
In 2010, South Korea's polyester yarns market was worth US$ 246 million.
Besides imposing anti-dumping duties on POY items, South Korea has also been levying duties ranging from 2.37 to 8.69 percent on all polyester drawn textured yarn (DTY) originating from Malaysia, China and Taiwan since 2006.
Last year, the country's trade commission extended these duties for a period of another three years, ruling in favour of the two domestic polyester manufacturers.
Fibre2fashion News Desk - India
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