On January 12, 2024, the Korea Trade Commission officially issued Announcement No. 2024-1 (Case No. 23-2024-1), initiating an anti-dumping investigation into PET resin (Polyethylene Terephthalate Resin) originating from China. This investigation was launched in response to an application filed by the Korean company ???? ??????/TK Chemical Co., Ltd. on November 20, 2023, marking a new measure by South Korea to protect its domestic chemical industry from external market impacts.

The Korean tariff code for the product involved in the case is 3907.61.0000. According to the announcement by the Korea Trade Commission, the dumping investigation period for this anti-dumping investigation spans from July 1, 2022, to June 30, 2023, totaling 12 months. Meanwhile, the injury investigation period covers a four-year timeframe from January 1, 2020, to December 31, 2023.

In this investigation, several Chinese companies have become the focus of attention, including Hainan Yisheng Petrochemical Co., Ltd., China Resources Chemical Innovative Materials Co., Ltd., Yisheng Dahua Petrochemical Co., Ltd., and Zhuhai China Resources Chemical Innovative Materials Co., Ltd. The products of these companies are suspected of potential dumping practices, which could have an impact on the domestic market in South Korea.

The announcement indicates that, unless extended otherwise, the preliminary ruling of this case is expected to be issued within three months after its release. This decision will have a significant impact on the international trade and market strategies of the involved Chinese enterprises.

The anti-dumping investigation by South Korea into Chinese-made PET resin indicates that the Korea Trade Commission is strengthening protective measures for its domestic chemical industry in response to competitive pressures in the international market. As a key material widely used across various industries, the outcome of this investigation may significantly impact the export operations and international market positions of related enterprises.

The initiation of this anti-dumping investigation represents a significant development for participants in the global PET resin market. It not only impacts the enterprises involved but may also trigger broader market adjustments and changes in trade strategies.

Announcement No. 2024-1 Original Text:Trade Commission Announcement No. 2024-1 (Announcement on the Initiation of Investigation into Dumping and Injury to Domestic Industry of Polyethylene Terephthalate Resin (PET Resin) Originating from China)