South Korea to impose up to 31.55% anti-dumping tariffs on European PVC paste resin for 5 years

South Korea will impose anti-dumping tariffs of up to 31.55% on polyvinyl chloride (PVC) paste resin imported from Germany, France and other European countries, after a government investigation confirmed dumping and material damage to the domestic industry.

The Ministry of Economy and Finance said it will impose anti-dumping tariffs of 25.79 to 31.55 percent on PVC paste resin imported from Germany, France, Norway and Sweden for five years, from Aug. 5 through Aug. 4, 2031.

The relevant ministerial decree will undergo a legislative notice period through July 28 before taking effect on Aug. 5.

PVC paste resin is a fine-powder plastic material mixed with plasticizers to form a paste. It is used in a wide range of lifestyle and industrial products, including synthetic leather, wallpaper, flooring and gloves.

The measure follows an anti-dumping investigation launched by the Korea Trade Commission after Hanwha Solutions filed a petition last year. The government opened the probe in August last year, imposed provisional anti-dumping tariffs in February this year, and finalized the measure following the commission's formal recommendation in June.

By supplier, Germany's Westlake Vinnolit and its affiliates, along with France's Kem One and its affiliates, will each face a 31.55 percent tariff. Other German suppliers will be subject to 30.60 percent, Norway's Innospec Europe and its affiliates and other Norwegian suppliers will face 25.79 percent, and Sweden's Innospec Trading and its affiliates and other Swedish suppliers will be subject to 28.15 percent.

The government said it will continue to monitor whether low-priced imports are disrupting the domestic market, with the aim of protecting local industries from dumping and ensuring fair competition. South Korea currently has 36 anti-dumping tariff measures in place, including three provisional measures.