Customs agency uncovers 19 firms dodging antidumping duties worth $30M

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Published: 11 Aug. 2025, 14:26

Korea Customs Service [YONHAP]

Customs authorities said Monday they have uncovered 19 companies accused of evading antidumping duties worth a combined 42.8 billion won ($30.8 million) while importing low-priced hot-rolled steel plates.

The companies allegedly avoided paying duties by declaring their goods under product codes not subject to antidumping duties, according to the Korea Customs Service.

Some also reportedly used the names of suppliers eligible for lower tariff rates without authorization.

The agency said it plans to recover the evaded taxes and even pursue criminal investigations in case of serious violations.

Antidumping duties are imposed when imported goods are priced below fair market value, deemed to cause harm to domestic industries. The duties are levied to bridge the price gap and protect local businesses from unfair competition.

Yonhap