Korean Transformer Cos. Owe Dumping Fees: Commerce

Law360, New York (February 10, 2012, 6:57 PM EST) -- The U.S. Department of Commerce on Friday announced its preliminary determination that a group of South Korean companies have been dumping on the U.S. market large power transformers at sub-market rates detrimental to the companies' U.S. competitors.

According to Commerce's findings, Korean companies including Hyosung Corp. and Hyundai Heavy Industries Co. Ltd. have been selling their electricity converter devices in the U.S. at less than fair value, dealing a blow to the domestic transformer industry.

Commerce has therefore assigned preliminary dumping margins of 38.07 percent to...
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