SEOUL, Sep 30 (Korea Bizwire) — A growing number of South Korea’s major trading partners apply restrictions on imports of Korean products every year, according to data released Thursday.
Rep. Park Young-soon of the Democratic Party referred to a report by the Korea Trade and Investment Promotion Agency (KOTRA) that the number of import restrictions on Korean products rose from 187 cases in 2017. to 210 cases in 2021.
By early this year, a total of 27 countries had imposed 208 types of import restrictions on South Korean products.
The United States imposed the most import restrictions (47 cases) on South Korean products, followed by Turkey, India, China and Canada.
Sorted by product type, the majority of import restrictions were imposed on steel and metal (100 cases), followed by chemicals (41 cases), plastic and rubber products (23 cases) and textiles and fashion products (15 cases).
Sorted by type of import restrictions, anti-dumping measures (150 cases) accounted for 72% of all restrictions, followed by countervailing duties (10 cases) and safeguard measures (36 cases).
Ashley Song ([email protected])