South Korea will terminate nearly 20 years of anti-dumping (AD) duties on imports of stainless steel bars from India, Japan, and Spain.

The tariffs have been in effect since July 30, 2004, and will end on January 22, 2024. Since the imposition of AD duties, South Korea's imports of stainless steel bars from the above countries have declined sharply, and the competitiveness of the domestic industry has been put on the track of recovery due to internal and other efforts.

The ranges of tariff elimination for stainless steel bars were 3.51%-15.39% for India and 15.39% for Japan and Spain.