According to the Korean Iron and Steel Association, the three largest South Korean steelmakers, POSCO, Hyundai Steel and Dongkuk Steel, have decided to set up a provisional committee with a view to initiating action against Chinese and Japanese exporters for alleged dumping activities.
The South Korean steelmakers in question have claimed that some steel products such as hot rolled steel sheet and shipbuilding plate imported from the abovementioned countries have been sold at 20 percent below domestic sales prices in South Korea.