South Korea To Extend Anti-dumping Duties On Ethyl Acetate Imports

South Korea will extend anti-dumping duties on ethyl acetate imported from China, Japan and Singapore for three more years starting on Mar. 27 in a bid to protect local manufacturers, the Ministry of Strategy and Finance said on Mar. 26, 2012.

The tariffs on ethyl acetate -- an industrial material used in making paint and glue -- will range from 3.14 to 14.17 percent, Xinhua news agency reported.

The figure was down from the 5.81-14.17 percent rate imposed on ethyl acetate imported from the three countries for three years since August 2008.

A recommendation to re-impose the anti-dumping duties was made by the Korea Trade Commission following request by local companies to extend the duties for protection from cheap imports.