Korea : Textured yarn cos from Taiwan, Malaysia & China to pay dumping duties

In the recent times, South Korea imposed dumping duties against polyester (PE) textured yarn manufacturers from Taiwan, Malaysia, and China.

Among Taiwan's textile producers on the list were Lealea Enterprise Co, Tun Yun Textile Co, and Hualong Corp.

Following the appeals of traders and producers of textile industry, South Korea's government carried out anti-dumping study of PE textured yarn manufacturers of Taiwan, Malaysia and China from July 2004 to June 2005.

Countries which have breached the anti-dumping law, will be considered for imposing anti-dumping taxes by South Korea.

Presently South Korea is Taiwan's third-largest export market for textured yarn, and the Taiwanese companies on the charge list have decided to hire lawyers to give answers to the dumping charges, as they don't want to lose profitable market in South Korea.

The Taiwanese yarn companies suggested that South Korea should reconsider its decision of imposing such lawsuit against Taiwanese textile manufacturers, as Taiwan has recently undergone a yearly trade deficit of approximately US$8 billion with South Korea.

Fibre2fashion.com