Keeping the anti-dumping taxes lower than China and Malaysia, South Korean Government has enforced taxes varying between 2.6 to 8.69 percent on imports of polyester textured yarns from Taiwan.
Government took this step after receiving complaints from local chemical fibre producers regarding the dumping by textile manufacturers of Taiwan, mainland China and Malaysia.
Even though taxes are comparatively lower, domestic textile producers like Tuntex Distinct Corp and Nan Ya Plastics Corporation will feel the heat as they will have to bear taxes around 8 percent.
Among the local textile units, Lan Fa Textile Co is the least affected with tax of 2.6 percent imposed against it followed by Lily Textile Corp which has to cough up 2.76 percent.
Data from Director General of Customs reveals that after China, Japan, Vietnam and Brazil, Taiwan was the fifth biggest exporter to South Korea during first seven months of the year.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
