SEOUL, April 17 (Korea Bizwire) – The head of a South Korean traders association met with deputy U.S.trade representative Jeffrey Gerrish and conveyed industry wide concerns over steel import restrictions, the organization said Tuesday.
Kim Young-ju, CEO of Korea International Trade Association (KITA), said the South Korean steel industry is relieved by Washington’s move to exempt its companies from the list of countries subject to steel tariffs under Section 232 of the Trade Expansion Act.
Still, the South Korean steel industry has lingering concerns because a U.S. guideline on setting a quota for steel imports has not been set.
The KITA chief also called on the United States to come up with reasonable guidelines to ensure that U.S. companies that need South Korean steel products are not affected.
South Korea shipped 3.6 million tons of steel products to the U.S. last year, making it the No. 3 steel exporter after Canada and Brazil, according to the U.S. Department of Commerce.
Kim was leading a delegation made up of executives from two dozen South Korean companies to Washington for a series of meetings with U.S.government officials and various think tanks.