KITA Held Seoul International Forum Trade Remedies Networking
- An opportunity to the reality of
Korean industries as well as their difficulties to the international trade
remedies organizations -
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
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.
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."