Posted on 04 Aug 2025
SeAH Besteel and SeAH CSS, two steelmaking subsidiaries of SeAH Group, said Monday they have filed an antidumping complaint against special steel bar imports from China.
The move came after the government recently accepted Hyundai Steel's request to impose antidumping tariffs on Chinese thick steel plates and hot-rolled steel plates, aimed at countering an oversupply of low-priced and lower-quality steel products in the Korean market.
SeAH Besteel warned that excessive inflows of Chinese special steel bars could undermine the competitiveness of Korean companies, as these materials are critical to the automotive, defense, heavy equipment, aerospace and nuclear energy industries.
“As the United States, Europe and India have recently tightened antidumping sanctions against Chinese special steel bars, we expect imports to Korea to further increase,” a SeAH Besteel official said. “By establishing minimum levels of protection for the special steel bar industry, we hope Korea will secure sovereignty in material supply and enhance fundamental competitiveness in the materials, components and equipment sectors.”
According to the Korea Iron & Steel Association, Chinese products accounted for 92 percent of the 750,000 tons of special steel bar imports last year. In particular, Chinese special steel bar imports climbed to 670,000 tons in 2024 from 450,000 tons in 2022, while prices fell by 24 percent over the past two years.
Describing the situation as “price distortion,” SeAH CSS cited it as a major reason for the company’s 91 percent drop in operating profit, plunging to 11.4 billion won ($8.2 million) in 2024 from 125.7 billion won in 2022.
Industry officials anticipate further measures to protect the domestic steel industry, as the U.S. has maintained a 50 percent metal tariff despite a recent agreement with Korea to lower “reciprocal” and auto tariffs to 15 percent.
Dongkuk CM is considering an antidumping complaint against precoated and galvanized steel sheets from China, amid concerns over Chinese companies circumventing hot-rolled steel plate tariffs by exporting precoated products made from their own hot-rolled steel.
Lawmakers from both the ruling Democratic Party of Korea and the main opposition People Power Party also proposed the so-called K-steel bill on Monday to revive the country’s embattled steel industry and support its green transition.
Source:The Korea Times
