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European Commission decides not to levy anti-dumping duties on Korean PTA

The European Commission has decided not to impose extra duties on purified terephthalic acid products sold by South Korean manufacturers following a months-long probe into dumping allegations, the foreign ministry said Wednesday.

The European Union's executive body launched the investigation into South Korean PTA products, mostly used in making polyester, in August 2016 amid allegations raised by European rivals that they were being sold at lower-than-market prices. 

The commission recently concluded that the dumping margin of the Korean products was below the so-called "de minimis" or minimal rate of 2 percent, which does not call for imposing any anti-dumping duties under relevant global trade rules and regulations, according to the ministry.

South Korea's PTA exports to the EU market have been on a steady rise for years and its 2016 sales in the region hit $534 million, which represented the largest share of the market, the ministry said.