May 08, 2024

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[THE INVESTOR] Non-tariff barriers aimed specifically at South Korean entities have doubled since 2012, the Korea Chamber of Commerce and Industry said on Dec. 15.

According to the KCCI report, 134 non-tariff barriers targeting Korea were introduced between 2012 and 2016, while 65 non-tariff barriers were introduced between 2008 and 2012. 

In comparison, the number of non-tariff barriers introduced in general fell 3.8 percent from 4,836 cases to 4,652.

The KCCI said that non-tariff barriers related to sanitary and phytosanitary measures showed a large increase going from five in the 2008-12 period to 19 since 2012.

The KCCI report also showed that 105 anti-dumping tariffs were levied in the recent four-year period. In comparison, 57 anti-dumping tariffs were levied between 2008 and 2012.

The KCCI also projected that protectionism will spread after US President-elect Donald Trump takes office, and that there is likely to be a dramatic increase in non-tariff barriers.

By country, the largest number of non-tariff barriers aimed at Korean entities were introduced by the US with 24, followed by India with 16 and Australia with 14.

The KCCI claimed that the US is showing a tendency to levy anti-dumping tariffs and countervailing duties based on biased information.

By Choi He-suk (cheesuk@heraldcorp.com)