April 27, 2024

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[THE INVESTOR] Samsung Electronics and LG Electronics on Dec. 12 expressed concerns about the US government’s recent decision to impose anti-dumping duties on their washing machines built in China.

The US Department of Commerce said last week that it will be imposing anti-dumping duties of 52.5 percent and 32.1 percent on Samsung and LG, respectively, claiming the Korean duo sold their washers at less than cost price.

But the two firms are denying the allegations, saying they have abided by related laws in the US. They plan to take countermeasures following a final decision to be made by the International Trade Commission in January next year.

“Samsung has been seeking fair competition under US laws,” said a Samsung spokesperson, adding that the company would keep trying to prove it has not hurt the local industry.

LG also complained that the commerce department’s estimates of production costs did not reflect the actual figures.

The anti-dumping decision come after the US-based Whirlpool filed a petition in December last year claiming that the two Korean firms have elevated their market share by selling their washers at unfairly low prices.

In a preliminary report released in July, the US department said it would levy 111 percent and 49 percent duties on Samsung and LG, respectively.

By Kim Young-won (wone0102@heraldcorp.com)