Department of Commerce Issues Preliminary Results on Steel Products from Republic of Korea
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The U.S. Department of Commerce has recently announced its preliminary findings concerning certain corrosion-resistant steel products (CORE) from the Republic of Korea. This review, conducted by Commerce’s International Trade Administration, covers the period from January 1 to December 31, 2024.
The Department has determined that countervailable subsidies were provided to producers and exporters of these steel products during the review period. Countervailable subsidies are financial benefits given by governments to specific companies or industries, making their products unfairly cheap in international markets.
In this review, Commerce looked at two main companies: Hyundai Steel Company and KG Dongbu Steel Co., Ltd. They found that both companies received subsidies that are not zero or de minimis (too small to count). Based on these findings, the Department assigned subsidy rates of 0.58% for Hyundai Steel and 4.82% for KG Dongbu Steel.
For companies that were not individually examined, the Department assigned a rate of 2.22%. This rate is a weighted average of the rates given to Hyundai Steel and KG Dongbu Steel. This calculation was made following specific rules that ensure fair assessment for companies not directly reviewed.
Separately, the review for Dongkuk Coated Metal Co., Ltd (Dongkuk CM) was rescinded. This decision was made because all parties that requested the review withdrew their requests within the allowed time frame.
For interested parties, there will be further opportunities to present written comments or requests for a hearing regarding these preliminary results. The Department plans to discuss these submissions and issue the final results later.
The results from these reviews guide the Department on instructing U.S. Customs and Border Protection (CBP) on assessing countervailing duties for the reviewed companies. These duties are significant as they ensure that imports from Korea are priced fairly in the U.S. market.
Commerce aims to issue preliminary decisions by October 8, 2026. Parties involved in the review process can submit briefs and request hearings within specific deadlines as detailed by the U.S. Department of Commerce. These processes are critical for maintaining fairness and transparency in trade practices.
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