Industry ministry to expand trade commission to strengthen trade protection functions .
The Ministry of Trade, Industry and Energy will reorganize the trade commission as part of efforts to strengthen its trade safeguard functions amid the expansion of global protectionism, officials said Tuesday.
The Korea Trade Commission (KTC) will have two new departments on dumping investigations starting next Tuesday, to better protect domestic industries amid global oversupply and protectionist policies of major economies, according to the officials.
With the envisioned reorganization, the KTC will have the largest workforce in its history, and work to better investigate unfair trade practices and take necessary measures, the ministry said.
The number of requests for anti-dumping investigations increased to 10 last year from six in 2021, with the average value of related industries rising to 2.9 trillion won ($1.99 billion) from 150 billion won over the same period, according to the ministry.
Source: KOREATIMES
