The move came after South Korea initiated an investigation into thick plate products imported from China to protect domestic steelmakers last year.

The Trade Commission of South Korean Ministry of Trade, Industry and Energy has conducted a preliminary investigation on Chinese steel plates, and claimed that there was sufficient evidence to estimate the actual damage to domestic industry. The Trade Commission decided to propose the imposition of provisional anti-dumping tariffs from 27.91% to 38.02%.

Dumping rate of Chinese companies is 27.91% for Baosteel, 29.62% for Jiangsu Xia Steel, 38.02% for Chantan Steel, Saino International, and Xiamen ITG, and 31.69% for others.

In 2024, South Korea imported $10.4 billion steel products from China, accounting for 4% of its total steel imports.

South Korea’s leading steel maker, Hyundai Steel filed an anti-dumping complaint in July 31 last year, accusing Chinese steel supplier exporting thick plates at low price and causing losses. Later in 2024, the South Korean government announced the initiating of the anti-dumping investigation.

Source: Seatrade Maritime