Korea's trade commission said Sunday that it has formally started a probe on coated printing paper from Japan, China and Finland to check if the imports unfairly undercut prices.

   The Korea Trade Commission that undertakes investigations and makes determinations on injury to the Korean industry, said Hansol Paper, Hankuk Paper and Hongwon Paper asked for an investigation, claiming imports were hurting local producers by dumping goods here.

   The KTC said it will conduct a preliminary review for three months that can be extended by two more months with a provisional ruling to follow afterward.

   It will then carry out the main probe, taking a maximum five months, before reaching a conclusion of whether to recommend the formal slapping of punitive duties.

   The local market for the printing papers used in magazines, textbooks, educational materials and commercial flyers stood at 500 billion won ($433 million) last year.

   Of the total, 65 percent of such paper products were made by local companies, with 30 percent being imported from the cited countries. (Yonhap)