U.S. Commerce Finds Subsidies for Korean Steel Producers
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Introduction:
The United States Department of Commerce has released preliminary results from a review of subsidies provided to steel companies in South Korea. This review targets specific manufacturers who produce cut-to-length carbon-quality steel plates.
Key Findings:
The Commerce Department has discovered that countervailable subsidies were given to two South Korean steel companies. These companies are Dongkuk Steel Mill Co., Ltd. and Hyundai Steel Company. The period under review is from January 1, 2024, to December 31, 2024.
Subsidy Rates:
The preliminary subsidy rates determined by the Commerce Department are as follows:
- Dongkuk Steel Mill Co., Ltd. has a subsidy rate of 1.89 percent.
- Hyundai Steel Company has a subsidy rate of 1.39 percent.
Partial Review Rescission:
The review initially included other companies, but the Commerce Department has decided to rescind the review for Daeik Eng Co., Ltd. and MAIKO International. This decision came after domestic parties withdrew their requests for an administrative review of these companies.
Process and Timeline:
The review began in March 2025 after requests for evaluation were received. By May 2026, the preliminary results were announced. Interested parties are invited to comment on these results.
The Commerce Department extended deadlines due to a federal government shutdown. This extension included a 47-day toll and an additional 21-day toll, with the preliminary results deadline set for May 7, 2026.
Next Steps:
The Commerce Department will disclose its calculations and analyses to parties of interest and invites comment submissions. There will also be opportunities for parties to submit briefs and request hearings.
Conclusion:
This preliminary finding by the U.S. Department of Commerce is an important step in managing fair trade practices. The final results are expected to be published following an analysis of comments and briefs submitted by interested parties. The steel industry and trade authorities are keenly observing these developments.
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