Emerging Markets Raise Barriers for Korean Exports Most Korean Exporters Expect Business to Drop Hong Kong Is Korea's Most Profitable Trade Partner Korean Economy Faces Minus Growth New Economic Team Determined to Fight Crisis U.S. Could Step Up Import Regulations on Korea Scuffles as Korea-U.S. FTA Begins Legislative Journey Korea Losing in 3-Way Trade with Japan, China The WTO Is Crumbling Finger Pointing Begins in Wake of WTO Talks Collapse WTO Chief Warns Over Bank and Auto Industry Bailouts

In a report on 2008 import regulation trends and the forecast for next year on Sunday, the Korea Trade-Investment Promotion Agency (KOTRA) says, “Countries are scrambling to escape the economic gloom by protecting domestic markets.”

Examples include Indonesia, which is expected to take safeguard measures for steel and chemical products next year. Last month, India conducted two anti-dumping investigations of Korean steel products and is expected to widen the scope of the investigation next year. Argentina also is strengthening anti-dumping measures.

Brazil and Argentina have recently expanded the application of minimum import prices, resulting in delays of shipments of some Korean products. Trade deficit-ridden Turkey has toughened customs procedures.

The European Union is strengthening vehicle-related environment regulations and increasing regulations on steel imports. The U.S. steel industry, which is vulnerable to the market and has a strong labor, is also expected to increase regulatory pressures on foreign products.

In China, one of Korea’s major exports, chemical products, is likely to suffer setbacks as Beijing is taking measures to promote its domestic industries. Tighter U.S. regulations on Chinese textile imports have raised fears of a ripple effect on the Korean textile industry.

Cho Byung-whee of KOTRA’s commerce survey section urged exporters to make their preparations in time.

(englishnews@chosun.com )