The Japanese government announced that it will initiate anti-dumping investigations into two types of steel products imported from South Korea, China, and Taiwan.

According to Kyodo News and other sources on the 1st, Japan's Ministry of Finance and Ministry of Economy, Trade and Industry announced their policy to conduct anti-dumping investigations into hot-rolled steel sheets and strips (thin, long rolled steel products) produced in South Korea, China, and Taiwan, which are used for automotive, home appliance, and construction materials.

This action follows a request submitted in February by Japanese steel companies, including Nippon Steel and JFE Steel, to investigate allegations that steel products imported from these three countries into Japan are priced up to 50% lower than normal prices, indicating dumping.

Japan's anti-dumping investigations are generally concluded within one year, and based on the investigation results, a decision will be made on whether to impose anti-dumping duties.

Masayuki Hirose, Chairman of the Japan Iron and Steel Federation (and President of JFE Steel), stated, "While strengthening monitoring of unfair steel imports, we will also consult with the government on further countermeasures."

The Ministry of Economy, Trade and Industry building in Kasumigaseki (government district), Chiyoda-ku, Tokyo [Yonhap News]