Marketing-Börse PLUS - Fachbeiträge zu Marketing und Digitalisierung
print logo

S. Korea to Impose Anti-Dumping Duties on White Cement from Egypt

South Korea has decided to implement anti-dumping duties against white cement imports from Egypt aimed at preventing potential damage to the domestic industry.
24.09.23 | Source: Yonhap News Agency

In a move to protect its local industry from potential damages, South Korea has decided to levy anti-dumping duties on white cement imports from Egypt. The decision was taken after a preliminary examination by the Korea Trade Commission (KTC) which has now referred the issue to the finance ministry. The exact amount of the tariff stands at 72.23 percent. This decision stems from a complaint filed by Union Corp., a domestic cement producer. Union Corp. accused Egypt's Royal El Minya Cement Co. and Albatros International Cement Trading Ltd. of flooding the South Korean market with cheaply-priced imports which has drastically impacted the business of homegrown firms. The finance ministry will take its decision by October. Meanwhile, the KTC will continue its probe to determine the final tariff rate. Union Corp. is South Korea's sole manufacturer of white Portland cement, a vital commodity in construction and decor works. According to reports, Egyptian white cement constituted about 10 percent or 10,000 tons, of the South Korean market's total requirement in 2022.