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US decision to subsidize South Korean steel producers

The U.S. Department of Commerce (USDOC) has determined that South Korea's manufacturers and exporters of certain corrosion-resistant steel products received compensable subsidies during the review period beginning January 1, 2021.

US decision to subsidize South Korean steel producers

The net recoverable subsidy rates allocated to KG Dongbu Steel and Hyundai Steel were announced as 6.48% and 0.82%, respectively. POSCO, POSCO Coated & Color Steel and SeAH Coated Metal received a 1.60% subsidy.

USDOC also partially rescinded the administrative CVD review, stating that SeAH Steel, POSCO International, POSCO Steeleon, and Hyundai Steel had no reviewable entries, exports, or sales of the products in question during the review period.

He emphasized that, in line with the preliminary determination of the four companies, the parties did not comment on the USDOC's review period.

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