[THE INVESTOR] Korea’s trade commission said on Jan. 18 it has recommended the government levy anti-dumping duties on polyethylene terephthalate film imported from Taiwan, Thailand and the United Arab Emirates.

The Korea Trade Commission said it set duties of 3.7-60.9 percent on synthetic resin imported from the three countries for the next five years. The tariffs will be confirmed by the Finance Ministry by April 17.

“There is enough evidence that the foreign PET films were imported at below reasonable market prices, which could force the lowering of prices for domestic products and affect companies’ profits,” the KTC said in a release.

The PET film subject to the imposition is used for manufacturing snack packages and materials for liquid crystal displays.

The foreign manufacturers have argued that Korean PET film has lost price competitiveness and the high tariff on foreign goods will only burden domestic consumers.

By Alex Lee and newswires (alexlee@heraldcorp.com)