Japan's Finance Ministry said Tuesday it has decided to keep anti-dumping tariffs of 30.8 percent for five years on imports from South Korea of a chemical compound used to produce glass for liquid crystal panels.
The ministry introduced on March 25 the duties on potassium carbonate shipped from the neighboring country as a temporary step for four months but will continue to levy them even after the stopgap measure expires.
The decision, despite counterarguments by South Korea, is based on a one-year investigation following a request from a Japanese industry group in April last year that duties should be imposed.
The group has argued that the imported products, cheaper than those sold in South Korea, have damaged domestic producers, forcing them to lower their sale prices or preventing them from raising prices.
The ministry said it has found the cheap imports of the chemical substance have inflicted "substantial damage" to the domestic industry and that additional tariffs are required to protect it.
South Korea is the world's largest exporter of potassium carbonate, also used for making alkaline preparations that are added to ramen noodles.