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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] Vietnam announced on Friday (local time) that it will impose provisional anti-dumping tariffs of up to 15.67% on certain galvanized steel sheet products imported from South Korea.
According to Reuters, the Ministry of Industry and Trade stated that the tariffs will take effect from April 16 and remain in place for 120 days. Among Korean manufacturers, Hyundai Steel will face a 13.7% tariff, while other Korean producers will be subject to the full 15.67%. However, POSCO, KG Steel, and Dongkuk Steel have been exempted from the measure.
The move comes after the Vietnam Steel Association called for anti-dumping duties in late February, citing pressure on the domestic steel industry due to rising imports from South Korea and China. The association claimed that Korean and Chinese galvanized steel accounted for 64–67% of total imports in 2022 and 2023. In response, the Vietnamese government launched an anti-dumping investigation in June 2023.
As part of the same measure, Chinese steel products, including those produced by Baoshan Iron & Steel, will be subject to tariffs of up to 37.13%. Just last month, Vietnam also imposed provisional anti-dumping tariffs ranging from 19.38% to 27.83% on certain Chinese hot-rolled coil steel products.
This is not the first time Vietnam has taken such actions. In April 2017, it imposed anti-dumping duties on galvanized steel from South Korea and China for a period of five years.
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
