Workers produce steel products at Posco's Pohang steelworks. [Provided by Posco]
Workers produce steel products at Posco's Pohang steelworks. [Provided by Posco]

Posco has filed a rebuttal with the Japanese government after it decided to impose provisional anti-dumping tariffs of 20 to 30 percent on Korean steel products.

According to Yonhap, Posco submitted the rebuttal to Japan's Ministry of Finance on Thursday arguing that the tariff rates applied to Korean hot-dip galvanized steel strips and sheets are excessive. The company also submitted supporting materials, including its previously filed responses, findings from on-site inspections, and relevant provisions and case precedents under the World Trade Organization's Anti-Dumping Agreement.

Last month, Japan's Ministry of Finance and Ministry of Economy, Trade and Industry reached a preliminary conclusion that hot-dip galvanized steel strips and sheets from South Korea and China were damaging Japan's domestic industry through dumping. The ministries determined that the dumping margin for Korean products ranged from 32.49 to 42.69 percent and decided to impose provisional anti-dumping tariffs accordingly. Posco was assigned a provisional rate of 29.2 percent, while KG Steel and other companies face rates of up to 38 percent.

"We submitted our position based on a detailed explanation of the facts and in accordance with the WTO Anti-Dumping Agreement," a Posco official said. "We hope the margin rate will be adjusted."


siuu@heraldcorp.com