another three years. Under the decision, the commission will request that the finance ministry slap tariffs of 3.51 percent to 15.39 percent on imported stainless steel bars from Japan, India and Spain. The finance ministry will make the final decision before the end of January next year.
South Korea has been imposing anti-dumping tariffs on stainless steel bars imported from the three countries since July 2004.
Stainless steel bars are utilized in making auto parts, medical instruments, construction materials and other industrial goods. The size of the South Korean market for the products was estimated at around 400 billion won or 100,000 tons, in 2018.