U.S. Department of Commerce Reports on Steel Plate Subsidies from Korea

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The U.S. Department of Commerce has completed its review of certain subsidies for cut-to-length carbon-quality steel plates from Korea. This review checked if Korean producers and exporters got support from their government. The results cover the year 2024.

Background

The review started with a preliminary finding in May 2026. The Commerce Department looked closely at the support received by Korean manufacturers from their government. These supports are known as “countervailable subsidies.” The analysis finished in November 2026.

Results

The Commerce Department discovered that two main Korean companies, Dongkuk Steel Mill Co., Ltd. and Hyundai Steel Company, received subsidies. The subsidies raised concerns about unfair trade advantages.

• Dongkuk Steel Mill Co., Ltd., received a subsidy rate of 1.89%.
• Hyundai Steel Company’s subsidy rate is 1.39%.

These rates represent the levels of financial aid in excess of what is allowed under fair trade laws.

Methodology

Commerce followed laws from the Tariff Act of 1930. The Act guides the evaluation of subsidies that involve government financial support. These can include things like reduced taxes or lower prices on government goods. The analysis also considered whether the subsidies were meant for specific industries, which makes them “countervailable.”

Next Steps

Now, U.S. Customs and Border Protection will act. They will apply these findings to imports from the two companies. The assessed amounts have been set. These will be charged as duties on future imports to the U.S.

Cash Deposit Requirements

New cash deposit rates are announced. These rates apply to goods imported on or after the final decision date. If a company-specific rate is less than 0.50%, the rate is zero.

• The default rate for other producers remains at 3.26%.

Key Points Discussed

Several topics were reviewed. They included special prices for electricity and emissions units. The review also looked into tax reduction programs and research grants. Some findings remained unchanged, while others included slight adjustments.

What happens next is crucial for the American steel market. The rates will help make sure that American companies can compete fairly. New steps ensure no unfair advantages exist due to government help from other countries.

This results guidance stays until further updates come from the Commerce Department.

Legal Disclaimer

This article includes content collected from the Federal Register (federalregister.gov). The content is not an official government publication. This article is for informational purposes only and does not constitute legal advice. For case-specific consultation, please contact us. Read our full Legal Disclaimer, which also includes information on translation accuracy.