South Korea to Impose Taxes on Chinese Glass Makers (Update1)

South Korea plans to impose tariffs on Chinese glass sold below local prices, aiming to protect domestic producers such as KCC Corp. and Hankuk Glass Industries Inc. from cheaper imports.

Qinhuangdao Yaohua Glass Co. and rival Chinese makers of glass used in buildings will probably have to pay duties as high as 36 percent for three years, South Korea's Ministry of Commerce, Industry and Energy said in a statement today. A final decision on the size of the tariffs will be made by the finance ministry, it said, without providing a timeframe.

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600450 South Korea to Impose Taxes on Chinese Glass Makers (Update1)
Date: 5 March 2008
Source: Bloomberg

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