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Number of S. Korean goods facing import regulations up 18 pct
By KH디지털2Published : Jan. 21, 2015 - 11:06
The number of South Korean products facing import regulations in other countries rose 18.4 percent in 2014 from a year earlier, data showed Wednesday, as emerging nations turned to trade barriers to protect their mainstay businesses.
A total of 167 goods from South Korea faced import restrictions in 26 countries last year, up by 26 items compared to 2013, according to the data compiled by the Korea International Trade Association.
The figure includes regulations that are currently being imposed as well as those that are undergoing review.
Such trade barriers have been on an uptrend since 2012 when the number of regulated items increased 8 percent to 120 from the previous year, the data showed. In 2013, the figure went up again by 17.5 percent on-year to 141 items.
The rise was largely attributable to emerging economies that are setting up trade barriers as a protective measure for their own products.
Of the newly imposed regulations last year, eight were from India, four from Malaysia and three from Indonesia, according to the data.
"Developing countries with a sizable domestic market and a growing influence on the world economy, such as China, Indonesia and India, are all leaning toward the use of import regulations to protect their strategic businesses," said Jei Hyun-jung, a researcher at KITA.
By type of regulation, safeguards were the most common with 14.
There were 11 cases of anti-dumping and four of countervailing duties, according to the data. (Yonhap)
A total of 167 goods from South Korea faced import restrictions in 26 countries last year, up by 26 items compared to 2013, according to the data compiled by the Korea International Trade Association.
The figure includes regulations that are currently being imposed as well as those that are undergoing review.
Such trade barriers have been on an uptrend since 2012 when the number of regulated items increased 8 percent to 120 from the previous year, the data showed. In 2013, the figure went up again by 17.5 percent on-year to 141 items.
The rise was largely attributable to emerging economies that are setting up trade barriers as a protective measure for their own products.
Of the newly imposed regulations last year, eight were from India, four from Malaysia and three from Indonesia, according to the data.
"Developing countries with a sizable domestic market and a growing influence on the world economy, such as China, Indonesia and India, are all leaning toward the use of import regulations to protect their strategic businesses," said Jei Hyun-jung, a researcher at KITA.
By type of regulation, safeguards were the most common with 14.
There were 11 cases of anti-dumping and four of countervailing duties, according to the data. (Yonhap)
