Korea KTC final anti-dumping determination: PVC paste resin from Germany, France, Norway and Sweden (25.79–31.55%)

Mechanism

The Korea Trade Commission (KTC) is the statutory body responsible for administering Korea's trade-remedy regime under the Act on Anti-Dumping, Countervailing Duties and Emergency Tariffs. At its 473rd plenary session on 21 May 2026, the KTC recommended definitive anti-dumping duties on polyvinyl chloride paste resin (PVC PSR) imports from four EU and EEA countries. PVC paste resin is a fine-powder petrochemical product used in paste-form processing — a distinct sub-category from PVC suspension resin — and is the feedstock for wall coverings (wallpaper), flooring, footwear (gloves, soles), automotive body sealants, and coated-fabric applications.

Country-specific final duty rates (five-year term):

The investigation was initiated in July 2025 on a petition from Hanwha Solutions Corp. (KRX:009830), Korea's largest integrated PVC producer. Provisional anti-dumping duties of 25.79%–42.81% were applied from February 2026; the final rates represent a significant reduction from the provisional upper bound (42.81% → max 31.55%), reflecting adjustments to dumping-margin calculations following the full investigation.

Formal implementation — via a Ministry of Economy and Finance (MOEF) customs duty notification gazetted in the Official Gazette — is expected within approximately 30–60 days of the KTC recommendation. At that point the provisional duty bond is replaced by the definitive duty obligation.

Register context

This is the fourth Korea KTC trade-remedy filing on the IPTM register and the first targeting European (EU/EEA) chemical exporters:

The three prior KTC filings all target China and/or Japan (metals and industrial goods). This action is the first KTC AD determination against EU/EEA suppliers and the first in specialty chemicals, expanding the register's Korea trade-remedy typology beyond steel and capital goods.

Key affected parties

Korean domestic industry (beneficiary): Hanwha Solutions Corp. is the primary complainant and domestic industry representative. Hanwha Solutions produces PVC resin at its Ulsan and Yeosu petrochemical complexes and is one of Northeast Asia's largest integrated chlor-alkali/PVC producers.

European exporters (burdened):

• Germany: Vinnolit GmbH & Co. KG, acquired by Westlake Corporation (NYSE:WLK) in 2014, is Germany's principal PVC paste resin producer; the 30.60%–31.55% rate directly affects Westlake's European operations.
• France: Kem One SAS (private; Lyon) and INOVYN (INEOS/Solvay JV) are the principal French PVC paste producers.
• Norway: INOVYN operates integrated PVC production at Rafnes (Telemark) using Norwegian hydropower; subject to the lowest rate (25.79%), reflecting smaller dumping margins.
• Sweden: Primarily INOVYN/Ineos operations; 28.15% rate.

Severity basis

Severity 2 (mixed basis): The KR domestic PVC paste resin market is estimated at approximately USD 200–400m/year at import values. The investigation covers four separate European suppliers who collectively hold material market share in Korea's specialty-PVC imports. The duty levels (25.79–31.55%) are meaningful but not confiscatory; Norway's low rate (25.79%) in particular reflects modest dumping margins. The action is structurally significant as the first KR AD measure extending the trade-remedy posture into European specialty chemicals, but does not materially reshape global PVC supply chains (EU PSR producers have alternative markets in ASEAN and the Middle East).

Open questions

• Formal MOEF customs duty gazette notification: expected June–July 2026; will confirm exact effective date and HS codes covered
• Whether European producers (particularly INOVYN Norway, which faces the lowest 25.79% rate) pursue WTO dispute settlement
• Potential interaction with the parallel EU anti-dumping investigation into Korean exports (if any retaliatory investigation is initiated)
• Whether Hanwha Solutions' petition extends to suspension resin (a separate PVC sub-category) or additional European suppliers