SK logo (SK Chemicals)
After an investigation, Malaysia’s Ministry of International Trade and Industry recently concluded that PET products imported from Korea would not harm the country’s oil and chemical industries, and decided to lift the temporary anti-dumping duties, sources said. industry here.
According to a preliminary ruling in December, the Malaysian government sought to impose a 15.5% anti-dumping duty on PET products exported by several Korean companies, including SK Chemicals and TK Chemical, after a Malaysian company Recron filed a petition to the government in June.
The two Korean companies export around 10,000 metric tonnes of PET to Malaysia each year.
Recron had claimed that imports of PET products from six countries, including South Korea, China, Japan and the United States, were dumped in Malaysia at a price well below the price. sales in the countries’ domestic markets, causing material injury to Malaysia. Malaysian market.
PETG, or glycol-modified PET, which is one of SK Chemical’s main products, has also been considered by the Malaysian government, but has ruled out imposing tariffs on them.
“The Malaysian government’s decision has removed the uncertainty surrounding exports of PET and PETG,” said an official from SK Chemicals.
“We will do our best to expand exports to the Southeast Asian region, where an increase in demand for PETG is expected along with the region’s economic growth.”
By Jo He-rim ([email protected])