Seoul, Aug 28
South Korea's trade watchdog on Thursday recommended the government accept a proposal from Chinese steel companies to raise export prices of their hot-rolled carbon and alloy steel plates over the next five years as part of anti-dumping remedies.
The Korea Trade Commission (KTC) said it has decided to make such a recommendation to the Ministry of Economy and Finance for nine Chinese steel exporters, including Baoshan Iron & Steel Co. and Jiangsu Shagang Steel Co, reports news agency.
The companies have proposed a price undertaking after the KTC reached a preliminary decision in February to impose anti-dumping duties, having determined that the exporters inflicted damage on the Korean steel industry by selling their products here at excessively low prices.
The KTC said it will recommend the ministry levy anti-dumping tariffs of up to 34.1 percent for the next five years on other Chinese companies that did not make such proposals.