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Emerging Markets including China, India and Russia are tightening import controls on Korean products.
According to a report released by the Korea International Trade Association on Sunday, the number of new complaints against Korean exporters brought by emerging markets accounted for 15 out of a total of 17 last year.
As of the end of last year, there were 121 import restrictions on Korean exports, including 18 under investigation. Of the total, 94 restrictions were imposed by emerging markets or developing countries, accounting for 77 percent and up 7 percent from a year earlier. Asian countries, Korea's biggest market, imposed 63 of the restrictions or 52.1 percent. India led with 26 cases, followed by China with 21 and the U.S. with 14.
Petrochemical products were in first place with 47 import restrictions (38.8 percent), followed by steel and metal (35 cases), fabric and clothing (19), and electric and electronic products (eight). China and India, with a combined percentage of 70.2, took most of the restrictive measures in the petrochemical segment, while the U.S. was the toughest in the steel and metal segment with 31.4 percent of import restrictions on Korean exporters.
"In imposing import restrictions on low-end products like Chinese steel, textiles and clothing, importing countries are strengthening control measures on Korean products as well," KITA said.
(englishnews@chosun.com )
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