South Korea's trade commission said Friday it has decided to impose punitive duties of up to 21.79 percent on ethanolamine imports from four countries, including the United States and Japan.
The decision followed a 10-month probe into allegations of dumping by a local importer of the chemical compound that is widely used to produce detergent, plasticizer and various other products. The products from Malaysia and Thailand were also named for punitive duties.
"The Trade Commission has come to rule in favor of imposing anti-dumping duties on ethanolamine imports following its probe that included questioning of local producers, importers and consumers, as well as public hearings," it said.
The commission recommended imposing anti-dumping duties of between 4.36 percent and 21.79 percent over the next three years.
The recommendation will soon be submitted to the country's finance ministry, which will make a final decision within 50 days.
The country's market for ethanolamine came to about 50 billion won ($47.8 million) in 2012, with 49 percent of the total supplied by the four countries.
The commission said it also reached preliminary confirmation of dumping by suppliers of polyester filament partially oriented yarn (POY) imports from India, Malaysia and Thailand through its initial probe launched in May.
It will have its final ruling after a three-month investigation.
POY is used in clothing, cars, sofas and curtains. The domestic market for POY came to about 270 billion won in 2013, with products from the three Asian countries accounting for 35.1 percent of the total. (Yonhap)
