S. Korean Firms Face 190 Import Tariffs in 28 Countries | Be Korea-savvy

S. Korean Firms Face 190 Import Tariffs in 28 Countries

(image: KobizMedia/ Korea Bizwire)

(image: KobizMedia/ Korea Bizwire)

SEOUL, Aug. 2 (Yonhap)South Korean companies face some 190 import tariff restrictions in 28 countries, with emerging markets accounting for over 70 percent of the barriers, a local trade promotion agency said Wednesday.

As of June, Korean firms were involved in 154 antidumping and countervailing duty actions and 36 safeguard tariffs imposed by countries such as the U.S., Canada, India, China and Thailand, the Korea Trade-Investment Promotion Agency (KOTRA) said in a statement.

A total of 135 import regulations were taken against Korean products in emerging countries at the end of June, the statement said.

The main products subject to trade restrictive actions are steel, chemical, textile and electro-electronic products, it said.

KOTRA expects the U.S., the EU, Vietnam and Thailand to strengthen their protectionist stances against locally made products in the second half of 2017.


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