The European Commission (EC) has initiated a review of existing anti-dumping measures on steel ropes and cables originating from China and South Korea.
The review, launched on the own initiative of the EC, will determine whether South Korean supplier Young Heung can still benefit from an exemption from the existing duties, which were last confirmed in April 2018.
The original duties were levied on China and later extended to product from Korea and Morocco as a result of anti-circumvention investigations. A number of Moroccan and South Korean companies, though, were granted exemptions. Among these was Young Heung, but “there is sufficient evidence that the circumstances on the basis of which the exemption was granted to Young Heung have significantly changed and that these changes are of a lasting nature”, the EC says in a note read by Kallanish.
“On 6 May 2020 Young Heung requested a change of name to Youngwire. However, the documentation provided showed that Young Heung has undergone an important reorganisation, including through the acquisition of the assets of another Korean exporter benefitting from the exemption, Dae Heung Industrial Co. Ltd,” the official document explains.
“It is considered that these significant changes, which have come to light in the context of the name change request, could have affected the company’s entitlement to an exemption from the anti-circumvention measures in force on imports of the product under review from the Republic of Korea,” it adds.
The review will be concluded by next summer.
Emanuele Norsa Italy
