SEOUL: Since November last year, the finance ministry has been imposing duties of 3.92 percent to 51.86 percent on the imported PET film.
The PET film subject to the imposition is used for manufacturing snack packages and materials for liquid crystal displays.
The foreign manufacturers have argued that Korean PET film has lost price competitiveness and the high tariff on foreign goods will only burden domestic consumers.
The local market for the chemical compound was estimated at 1 trillion won ($927 million) last year, with products imported from the countries accounting for 10 percent, according to Seoul’s trade ministry.
