The Trade Commission of the Ministry of Trade, Industry and Energy said it will accept Hyundai Steel's application and launch an anti-dumping investigation into Chinese companies.
According to data from the Korea International Trade Association, China's steel exports rose 15% from last year in the January-April period this year, but export unit prices fell 19%.
As a result, complaints have been accumulated in the domestic industry that it is difficult to do business normally due to low-cost exports by Chinese companies.
The U.S., the European Union, and Mexico have decided to raise tariff rates, believing that low-cost exports of Chinese steel products disrupt their economies.
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