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Jitters in South Korean Auto Industry Amid Negative FTA Reports

Jitters in South Korean Auto Industry Amid Negative FTA Reports

SEOUL, Mar. 27 (Korea Bizwire) — South Korea’s troubled automobile industry faces yet another blow amid growing speculation that the government might trade the sector in for favorable steel tariffs. Speaking to the press at Incheon Airport, South Korean trade minister Kim Hyun-jong. who had just returned from Washington, said, “Understanding on the bilateral FTA and [...]

Heavy U.S. Tariffs to Hurt Steel Exports: Sources

Heavy U.S. Tariffs to Hurt Steel Exports: Sources

SEOUL, Mar. 9 (Korea Bizwire) — South Korean steel exports to the United States will take a big hit from Washington’s move to slap heavy tariffs on imported steel, local industry sources said Friday. Defying threats of retaliatory measures from major economies, U.S. President Donald Trump signed orders imposing 25 percent tariffs on steel imports, [...]

Canada Slaps Provisional Duties on S. Korean Steel Products

Canada Slaps Provisional Duties on S. Korean Steel Products

SEOUL, Sept. 13 (Korea Bizwire) — Canada’s border authorities said they have imposed up to 107.2 percent provisional duties on South Korean steel products in a preliminary ruling that could deal a blow to South Korean companies. The Canada Border Services Agency said on its website checked here Tuesday that it “made a preliminary determination” [...]

POSCO Pushed down to 5th in Global Steel Production Ranking

POSCO Pushed down to 5th in Global Steel Production Ranking

SEOUL, May 31 (Korea Bizwire) – POSCO, South Korea’s biggest steelmaker, suffered a dip in its global standing by coming in as the fifth-largest steel-producing firm, largely due to the merger of two Chinese players, industry data showed Wednesday.  The data from the World Steel Association showed the Pohang-based company produced 41.56 million tons of [...]

Vietnam Slaps Anti-dumping Duties on S. Korean Galvanized Steel Products

Vietnam Slaps Anti-dumping Duties on S. Korean Galvanized Steel Products

HANOI, Apr. 3 (Korea Bizwire) — Vietnam’s decision to slap anti-dumping duties on galvanized steel products from South Korea could hurt efforts to expand market presence in the key Southeast Asian country, industry sources in Hanoi said Sunday. According to the Korea Trade-Investment Promotion Agency (KOTRA), Vietnam will be levying stiff import duties on South Korean [...]

S. Korea Pushes to Extend Anti-Dumping Tariffs on Foreign Steel Products

S. Korea Pushes to Extend Anti-Dumping Tariffs on Foreign Steel Products

SEOUL, March 17 (Korea Bizwire) – South Korea’s agency handling trade remedies said Friday that it has decided to extend the current anti-dumping tariffs imposed on some foreign stainless steel products by three additional years.  The Korea Trade Commission said it will ask the finance ministry to continue to slap anti-dumping tariffs of 3.56 to [...]

S. Korean Steel, Chemical Products Becoming Targets of Import Restrictions: KOTRA

S. Korean Steel, Chemical Products Becoming Targets of Import Restrictions: KOTRA

SEOUL, Feb. 8 (Korea Bizwire) – South Korean steel and chemical products, the country’s leading export items, have increasingly become targets of import restrictions in other countries, a trade agency said Wednesday.  Reports sent in by overseas offices of the Korea Trade-investment Promotion Agency (KOTRA) showed that of the 19 new investigations launched against products [...]