South Korea's Ministry of Economy and Finance announced on May 16 that it will not impose anti-dumping (AD) duties on stainless steel flat-rolled imports from five companies in China, Indonesia, and Taiwan.

According to the notice, the ministry has accepted price-increase pledges from five major stainless steel exporters, including China’s Shanxi Taigang and Angang Lianzhong, Indonesia’s PT Indonesia Tsingshan, and Taiwan’s Yieh United Steel and Walsin Lihwa, as well as their affiliates.

The ministry also warned that if the promise regarding price conditions proposed by the companies isn’t met or any other practices that violate the price promise, AD duties will be imposed.

The products involved are stainless steel flat-rolled products with a thickness of 8 mm or less, classified under certain tariff code headings 7219 and 7220.