South Korean Refrigerators in Anti-Dumping Investigation
Jan 7, 2005
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In update from a late December news item, a trade agency said Australia has started an anti-dumping investigation into imports of South Korean manufactured refrigerators. The investigation started on Jan. 1, 2005 after complaints from an Australian home appliance maker that South Korean refrigerators are being sold on the Australian market at artificially low prices, the Korea International Trade Association (KITA) said.
A preliminary decision is expected to be delivered in early March 2005, KITA added. South Korea is estimated to have sold nearly U.S. $100 million worth of refrigerators to Australia last year.
Australia currently imposes anti-dumping tariffs on eight South Korean products, including washing machines. Investigations are also underway there to determine if four additional goods are being sold at below-market prices in Australia.
The South Korean government will conduct its own investigation into whether Australia's recent decision to impose anti-dumping tariffs on washing machines manufactured by LG Electronics, South Korea's leading home appliance maker, is in line with World Trade Organization (WTO) rules.
Seoul plans to take the case to the WTO if it is believed to be in violation. South Korea's trade deficit with Australia widened to $3.64 billion in the first 11 months of 2004 from $2.64 billion in 2003. (Yonhap)
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