South Korea launched anti-dumping investigation on Vietnamese plywood
Anti-dumping,duty,Vietnam,plywood,Korea,Korean Wood Production Association,Malaysia,China
In December, the Korean Trade Commission announced an anti-dumping investigation on plywood imported from Vietnam. This came about as Korea’s domestic manufacturers complained that imports from Vietnam are affecting the domestic industry, reported ITTO.
It has been reported that the Korean Wood Production Association is proposing an anti-dumping duty of 93.5% on Vietnamese plywood in stark contrast to the antidumping rate from 3.96% to 38.1% for plywood imported from Malaysia and China.
According to the Korean news agency, Vietnam's wood products have a 40% market share in Korea, a market worth around US$650 million.