South Korean media reported that South Korea's Ministry of Trade, Industry and Energy’s Trade Commission has decided to uphold the existing anti dumping tariff on imported Chinese H-shaped steel beams. The move will extend the anti-dumping tariff, which has been in force since July 2015, by another five year period. South Korea plans to continue to slap tariffs of around 28.23-32.72% on Chinese firms, except for three suppliers that ship steel at pre-fixed prices. The finance ministry is set to make the final decision by May 2021.
South Korean steelmaker Hyundai Steel Co and Dongkuk Steel Mill Co have been claiming that Chinese products will have an adverse impact on local industries. H-beams are widely used in building large structures.