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% to 31.55%, will be enforced from next month until August 2031. PVC paste resin is commonly used in interior building materials and industrial goods like wallpapers and gloves.
The decision follows a complaint by South Korean company Hanwha Solutions Corp. against several European exporters last year. Subsequently, the country’s trade commission conducted an investigation and recommended the imposition of anti-dumping duties in June this year. The ministry emphasized the need to monitor low-priced imports that disrupt the domestic market and ensure fair competition.
South Korean stocks surged on Friday morning, primarily driven by a semiconductor rally. The benchmark Korea Composite Stock Price Index (KOSPI) rose significantly, gaining 3.48% to reach 7,545.51 by 11:20 a.m. The uptrend was influenced by the positive performance of U.S. stocks, particularly in the semiconductor sector and the stabilization of oil prices.
Blue-chip shares in Seoul led the early market gains, with Samsung Electronics seeing a 3.78% increase and chipmaker SK hynix also rising by 0.91%. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite in the U.S. closed higher in the previous session, with notable gains in semiconductor stocks.
