South Korea’s finance ministry announced plans to levy anti-dumping tariffs on polyvinyl chloride (PVC) paste resin products from Germany, France, Norway, and Sweden. The tariffs, ranging from 25.79 percent to 31.55 percent, will be effective from next month until August 2031. PVC paste resin is commonly used in interior building materials, wallpapers, and gloves.
This decision follows a complaint by South Korean chemical firm Hanwha Solutions Corp. against several European exporters last year. The country’s trade commission investigated the matter and recommended the imposition of anti-dumping duties in June this year to protect domestic industries from unfair competition.
The ministry stated its commitment to monitoring low-priced imports that disrupt the local market and ensuring a fair competition environment. In other news, South Korean stocks closed higher, with semiconductor shares leading the rally after gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose by 2.52 percent to close at 7,475.94.
Trade volume stood at 449.53 million shares worth 31.16 trillion won ($20.73 billion), with institutional investors being net buyers. Individuals and foreigners, however, were net sellers. Foreign investors, after two sessions of net buying, turned into net sellers on this occasion.
