Korea announces extension of anti-dumping duties on ethyl acetate

According to foreign reports, the South Korean Ministry of Finance said on Monday that South Korea will continue to extend anti-dumping duties on ethyl acetate solvents imported from China, Singapore and Japan for three years to protect local producers.

Allegedly, the punitive tariffs of 3.14 to 14.17% will be imposed on ethyl acetate products from the above three countries until March 26, 2015.

Korea’s previous implementation of a tariff of 5.81 to 14.17% on imported ethyl acetate products from the above three countries, from August 25, 2008 to August 24, 2011.

Ethyl acetate is an industrial solvent commonly used in the production of paint, glue and nail polish products. Korean chemical manufacturers own about 44% of its domestic ethyl acetate market.