Seoul: South Korea's finance ministry announced its decision to impose anti-dumping tariffs on polyvinyl chloride (PVC) paste resin products imported from Germany, France, Norway, and Sweden. The measure is set to take effect next month and will remain in place until August 2031, as these products were found to be imported at prices below fair market value.

According to Yonhap News Agency, the tariffs will range from 25.79 percent to 31.55 percent. PVC paste resin is commonly utilized in the production of interior building materials and various industrial goods such as wallpapers and gloves. The decision to impose these tariffs follows a complaint filed by South Korean chemical firm Hanwha Solutions Corp. in July of the previous year. This prompted the country's trade commission to conduct an investigation, resulting in a recommendation to the finance ministry to enforce anti-dumping duties, which was made in June this year.

The finance ministry stated its intention to continue vigilant monitoring of low-priced imports that may disrupt the domestic market. The ministry emphasized its commitment to protecting local industries from dumping practices and ensuring a fair competitive environment.