- Created: Monday, 22 September 2003 13:00
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SEOUL (Dow Jones)--The Australian Customs Service has found that South Korean-made washing machines by Samsung Electronics Co. (Q.SSE) and Daewoo Electronics Inc. were exported at below domestic market prices and have caused "material injury" to its industry
"Material injury would continue to be caused to Australian industry if goods from Korea continue to be exported to Australia at dumped prices," a notice posted on the Australian Customs Service Web site said.
The customs service recommended that anti-dumping action be taken against the goods exported by the two companies. An official at the customs service couldn't be reached for comment on the amount of duties to be imposed.
However, the local Yonhap News Agency reported Friday that duties will be placed on washing machines weighing 12 kilograms or less by Daewoo at a 2% to 10% rate, while Samsung faces 35% to 45%.
The customs service exempted LG Electronics Inc. (Q.LGE) from its recommendation. LG is the country's largest home appliance maker.
A Samsung spokesman said its shipment of washing machines to Australia is "minimal," and therefore won't hurt the company's business. He didn't provide detailed figures.
Separately, a Daewoo spokeswoman said 2%-5% duties have been slapped on its washing machines, but because it only exports 30,000 units a year to Australia, its revenue won't be much affected. Daewoo is also reviewing plans to divert part of that annual shipment to other East Asian locations, including Vietnam.
The investigation into alleged anti-dumping practices began after New Zealand-based Fisher & Paykel Appliances Holdings Ltd. (A.FPA) filed anti-dumping complaints against the three South Korean manufacturers last year.
>From Yahoo, Singapore