South Korea's trade commission said Thursday that it has decided to extend anti-dumping duties on Chinese float glass products, citing unfair price cuts.
The Korea Trade Commission said punitive duties of 12.04-36.01 percent will be maintained on Chinese imports for the next three years.
The decision follows investigations carried out following formal complaints raised by KCC Corp. and Hankuk Glass Industries Inc. in April 2010. The two companies claimed that lifting punitive duties will hurt local manufacturers.
Seoul initially imposed punitive duties of 12.73-36.01 percent on Chinese products from October 2007 that expired after three years.
Float glass is a type of common flat glass that is 4-13 millimeters thick. It is used in the building of homes, apartment buildings, office towers and other structures that require transparent glass. As of 2009, the size of the local market stood at around 400 billion won ($356 million).