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S. Korea to extend anti-dumping duties on kraft paper
Last Updated(Beijing Time):2012-04-09 14:18

South Korea will extend anti-dumping duties on kraft paper imported from five countries for three more years in a bid to protect local manufacturers, the finance ministry said Monday.

Anti-dumping tariffs ranging from 4.03 percent to 10.79 percent will be imposed on kraft paper imported from China, the United States, Russia, Canada and Indonesia for three years starting Tuesday, according to the Ministry of Strategy and Finance.

Kraft paper refers to paper produced from chemical pulp made through kraft process. The paper is stronger than those made via other processes, so it is widely used to package cement, animal feed and flour.

The Korea Trade Commission recommended re-imposing anti-dumping duties to the finance ministry after local companies requested extending the duties for protection from cheap imports. The previous anti-dumping tariffs were imposed for three years since Aug. 2008.

Punitive duties of 10.79 percent will be imposed on kraft paper manufactured by Chinese firms, including Tianjin Tianbao Century Development and Qingdao Haiwang Paper Property Share. The rate for Tiger Forest and Paper Group was set at 4.03 percent, with the one for the remaining Chinese manufacturers set at 7.22 percent.

The anti-dumping duties of 10.79 percent were slapped on products made by all suppliers in the U.S., Russia, Canada and Indonesia.

Source:Xinhua 
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