South Korea Steel Products: Commerce Set to Recognize POSCO Reorganization
The Commerce Department looks set to recognize the corporate reorganization of a South Korean company for the purposes of antidumping duties on several steel products from South Korea: non-oriented electrical steel (A-580-872), certain corrosion-resistant steel products (A-580-878), certain cold-rolled steel…
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flat products (A-580-881), certain hot-rolled steel flat products (A-580-883), certain carbon and alloy steel cut-to-length plate (A-580-887), and carbon and alloy steel wire rod (A-580-891). The agency preliminarily found the reorganized POSCO to be the successor-in-interest to the pre-reorganization entity, in the preliminary results of a changed circumstances review. The agency preliminarily found POSCO continues to operate as the same business entity despite the reorganization, which included the creation of a new parent entity POSCO Holdings. If Commerce confirms its finding in the final results, the reorganized POSCO may inherit the AD duty rates assigned to POSCO in the various AD reviews.