KITA News and Reports
  • KITA Held Seoul International Forum Trade Remedies Networking Luncheon
    2017-07-12

    KITA Held Seoul International Forum Trade Remedies Networking Luncheon

    -       An opportunity to the reality of Korean industries as well as their difficulties to the international trade remedies organizations      -

     

    The Korea International Trade Association (Chairman, Kim In-ho) hosted the 'Seoul International Forum Trade Remedies Networking Luncheon' on July 6, Thursday. The event provided networking between major officials from the international trade remedies organizations who participated in the "Seoul International Forum on Trade Remedies" sponsored by the Trade Committee of the Ministry of Commerce, Industry and Energy and the Korean companies who are subject to trade remedies measures (anti-dumping, countervailing duty, etc.). Korean companies met the officials from the international organizations, who are in charge of investigation and judgment over dumping and subsidies, and delivered the reality of industries as well as difficulties so that they can make fairer judgments.

     

    More than 100 officials from Korean major companies including LG Electronics and POSCO as well as the international trade remedies agencies, such as the US International Trade Commission (ITC) and the Ministry of Commerce, People’s Republic of China, participated in the luncheon and had an opportunity to share information on trade remedies. All the trade relief bodies of India, China, the United States and Brazil, who are imposing much regulatory measures on Korea, attended the event and the total number of their import restrictions on Korea is 134, which takes up 70 percent of the total import regulations imposed on Korea.

     

     

    Kim In-ho, chairman of the Korea International Trade Association, stressed in his speech "In order for the global economy to sustain its great development, the countries should not be tempted by protectionism. Also, it is required for the trade relief organizations in each county to continuously conduct researches and discussions to achieve our two goals in harmony to maintain the free trade trend and to appropriately and fairly protect domestic industries.” He added, “As the representative of Korea's trade industry, KITA will pay close attention to the emergence of global protectionist tendencies with a keen interest. I expect that the function of trade remedies between Korea and its major trading partners will be more fairly implemented." 

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