South Korea plans to impose tariffs on Chinese glass sold below local prices, aiming to protect domestic producers such as KCC Corp & Hankuk Glass Ind. from cheaper imports. Qinhuangdao Yaohua Glass Co. & rival Chinese makers of glass used in buildings will probably have to pay duties as high as 36% for 3 years, South Korea's Ministry of Commerce, Industry & Energy said in a statement today. A final decision on the size of the tariffs will be made by the finance ministry, it said, without providing a timeframe. KCC, South Korea's biggest maker of construction materials & Hankuk Glass in 2006 accounted for 81% of South Korea's $341M won market for float glass (less than 13mm). Chinese manufacturers, which made up about 19% of the market, were selling glass below domestic prices or production costs, a practice known as dumping, the ministry said. China Glass Holdings Ltd. and its affiliates have agreed to increase their prices, allowing them to avoid the tax, the ministry said, without providing details.
