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Photo courtesy of Yonhap News |
[Alpha Biz= Kim Jisun] SEOUL, Aug. 21 — Japan has initiated an anti-dumping investigation into bisphenol A (BPA) imports from South Korea and Taiwan, raising concerns for Korea’s petrochemical industry, which is already struggling with slowing global demand and oversupply from China and the Middle East. Japan is one of Korea’s largest export markets for BPA.
According to the petrochemical industry on August 21, Japan’s Ministry of Finance and Ministry of Economy, Trade and Industry (METI) officially announced the launch of the investigation into BPA produced in South Korea and Taiwan (including Penghu, Kinmen, and Matsu). BPA is a widely used raw material essential for polycarbonate and epoxy resins, which are critical in the electronics and automotive sectors.
The probe follows a June 2 petition by Mitsubishi Chemical and Mitsui Chemicals, claiming that BPA imported from Korea and Taiwan was being sold at unfairly low prices and posed potential harm to the Japanese market.
Japan Cites Industry Protection
The Japanese government said the decision was made to safeguard domestic industries. “After reviewing the petition under WTO agreements and related domestic laws, we found sufficient evidence to justify the initiation of an investigation,” the Ministry of Finance stated.
Under WTO anti-dumping rules, countries may impose investigations and tariffs if imported goods are sold at significantly lower than normal value and cause material injury to domestic industries.
The investigation is expected to conclude within one year. Japanese authorities will provide domestic stakeholders the opportunity to submit evidence and will conduct fact-finding on Korean and Taiwanese producers.
알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)
