The Korea Trade Commission announced on January 12, 2024, that it has initiated an anti-dumping investigation against Chinese PET resin imports. This move comes in response to an application filed by South Korean company TK Chemical Co., Ltd. on November 20, 2023. The investigation will cover the following Chinese companies:
- Hainan Yisheng Petrochemical Co., Ltd.
- China Resources Chemical Innovative Materials Co., Ltd.
- Yisheng Dahua Petrochemical Co., Ltd.
- Zhuhai China Resources Chemical Innovative Materials Co., Ltd.
Anti-dumping investigations are conducted to determine whether foreign goods are sold in another country at prices lower than their domestic market value, which could potentially harm local industries. Should the investigation confirm the existence of dumping practices and demonstrate industry harm in South Korea's PET resin sector, the country may impose tariffs or other trade restrictions on Chinese PET resin imports.
Notably, Wankai New Materials Co., Ltd., remains unaffected by the anti-dumping probe and will continue to concentrate on its strategic development, aiming to deliver safe and high-quality polyester materials to the market.