Containers for exports and imports are stacked at a pier in South Korea’s largest port city of Busan on Sept. 13, 2022. (Yonhap)
SEOUL, Sept. 30 (Korea Bizwire) — An increasing number of South Korea’s major trading partners are implementing import restrictions on Korean products every year, data showed Thursday.
Rep. Park Young-soon of the Democratic Party referred to a Korea Trade-Investment Promotion Agency (KOTRA) report that said the number of import restrictions on Korean products rose from 187 cases in 2017 to 210 cases in 2021.
As of early this year, a total of 27 countries had imposed 208 kinds of import restrictions on South Korean products.
The U.S. has been imposing the most import restrictions (47 cases) on South Korean products, followed by Turkey, India, China and Canada.
Sorted by product type, a majority of import restrictions were imposed on steel and metal (100 cases), followed by chemical products (41 cases), plastic and rubber products (23 cases) and textiles and fashion products (15 cases).
Sorted by type of import restrictions, anti-dumping measures (150 cases) comprised 72 percent of all restrictions, followed by countervailing duties (10 cases) and safeguard measures (36 cases).
Ashley Song (ashley@koreabizwire.com)
