The Ministry of Trade, Industry and Energy in Seoul reported on Thursday that South Korea is planning to impose anti-dumping duties on white portland cement imported from Egypt. Following a preliminary review, the Korea Trade Commission determined that provisional duties of 72.23 percent should be imposed to protect the local industry from the influx of cheap imports.
The petition was submitted by Union Corp., South Korea’s only producer of white portland cement, which is used for general construction and decoration. The company argued that the imports from Egypt had a detrimental effect on its business and the cement industry in the country. The finance ministry is expected to make a decision by October, and the KTC will conduct an additional investigation to determine the exact tariff rates.
In 2022, Royal El Minya Cement Co. and Albatros International Cement Trading Ltd. from Egypt accounted for 10 percent of the South Korean market, or 10,000 tons.
This file photo taken March 30, 2022, shows the entrance of the Ministry of Trade, Industry and Energy building in the central city of Sejong. (Yonhap)
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