Choi, Won-Mog --- "Trade Remedy Laws and Regulations of Korea: Anti-dumping and Countervailing Measures" [2011] ELECD 189; in Chang, Wha Seung; Choi, Won-Mog (eds), "Trade Law and Regulation in Korea" (Edward Elgar Publishing, 2011)

Book Title: Trade Law and Regulation in Korea

Editor(s): Chang, Wha Seung; Choi, Won-Mog

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781847209221

Section: Chapter 3

Section Title: Trade Remedy Laws and Regulations of Korea: Anti-dumping and Countervailing Measures

Author(s): Choi, Won-Mog

Number of pages: 40

Extract:

3. Trade remedy laws and regulations
of Korea: anti-dumping and
countervailing measures
Won-Mog Choi

1. INTRODUCTION

1.1. Trade Remedy Laws and Regulations

The term "trade remedy laws and regulations" refers to certain rules
that impose restrictions on imports which inflict injury upon domestic
industries. In general, such injury may be incurred under certain circum-
stances in which exporters engage in dumping practices in the market of
the importing country, or if an imported good subsidized by a foreign
government is introduced into the market of the importing country.
"Anti-dumping laws" prescribe rules on anti-dumping duties that are
tariffs in addition to ordinary customs duties imposed to counteract such
dumping practices, while "subsidy and countervailing laws" are rules on
countervailing duties that are imposed in the form of additional tariffs in
order to countervail the effects of certain subsidies bestowed by foreign
governments.
The principal laws governing the system of trade remedy in Korea are
the Act on the Investigation of Unfair International Trade Practices and
Remedy against Injury to Industry (Trade Remedy Act) and the Customs
Act. The former act is the first comprehensive trade remedy law, cover-
ing such matters as the investigation of unfair trade activities, safeguard
actions, investigation of injury to a given industry caused by dumping and/
or subsidies, investigation of the impact on industry competitiveness, and
the organization and function of the Korea Trade Commission (KTC).1
The stated legislative goals of this law include the following: (i) to estab-
...