Notice2024-02019
Certain Corrosion-Resistant Steel Products From the Republic of Korea: Final Results and Partial Rescission of Countervailing Duty Administrative Review; 2021
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
February 1, 2024
Issuing agencies
Commerce DepartmentInternational Trade Administration
Abstract
The U.S. Department of Commerce (Commerce) determines that countervailable subsidies are being provided to producers and exporters of certain corrosion-resistant steel products from the Republic of Korea. The period of review (POR) is January 1, 2021, through December 31, 2021.
Full Text
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<title>Federal Register, Volume 89 Issue 22 (Thursday, February 1, 2024)</title>
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[Federal Register Volume 89, Number 22 (Thursday, February 1, 2024)]
[Notices]
[Pages 6501-6503]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-02019]
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DEPARTMENT OF COMMERCE
International Trade Administration
[C-580-879]
Certain Corrosion-Resistant Steel Products From the Republic of
Korea: Final Results and Partial Rescission of Countervailing Duty
Administrative Review; 2021
AGENCY: Enforcement and Compliance, International Trade Administration,
Department of Commerce.
SUMMARY: The U.S. Department of Commerce (Commerce) determines that
countervailable subsidies are being provided to producers and exporters
of certain corrosion-resistant steel products from the Republic of
Korea. The period of review (POR) is January 1, 2021, through December
31, 2021.
DATES: Applicable February 1, 2024.
FOR FURTHER INFORMATION CONTACT: Robert Palmer, AD/CVD Operations,
Office VIII, Enforcement and Compliance, International Trade
Administration, U.S. Department of Commerce, 1401 Constitution Avenue
NW, Washington, DC 20230; telephone: (202) 482-9068.
SUPPLEMENTARY INFORMATION:
Background
Commerce published the preliminary results of this administrative
review on July 31, 2023.\1\ For a description of the events that
occurred since the Preliminary Results, see the Issues and Decision
Memorandum.\2\
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\1\ See Certain Corrosion-Resistant Steel Products from the
Republic of Korea: Preliminary Results and Partial Rescission of
Countervailing Duty Administrative Review; 2021, 88 FR 49440 (July
31, 2023) (Preliminary Results), and accompanying Preliminary
Decision Memorandum.
\2\ See Memorandum, ``Issues and Decision Memorandum for the
Final Results and Partial Rescission of the 2021 Administrative
Review of the Countervailing Duty Order on Certain Corrosion-
Resistant Steel Products from the Republic of Korea,'' dated
concurrently with, and hereby adopted by, this notice (Issues and
Decision Memorandum).
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Scope of the Order \3\
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\3\ See Certain Corrosion-Resistant Steel Products from India,
Italy, the People's Republic of China, the Republic of Korea and
Taiwan: Amended Final Affirmative Antidumping Determination for
India and Taiwan, and Antidumping Duty Orders, 81 FR 48390 (July 25,
2016) (Order).
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The products covered by this Order are certain corrosion-resistant
steel products. For a complete description of the scope of this Order,
see the Issues and Decision Memorandum.
Analysis of Comments Received
All issues raised in interested parties' case briefs are addressed
in the Issues and Decision Memorandum accompanying this notice. A list
of the issues raised by parties, and to which Commerce responded in the
Issues and Decision Memorandum, is provided in the appendix to this
notice. The Issues and Decision Memorandum is a public document and is
on file electronically via Enforcement and Compliance's Antidumping and
Countervailing Duty Centralized Electronic Service System (ACCESS).
ACCESS is available to registered users at <a href="https://access.trade.gov">https://access.trade.gov</a>. In
addition, a complete version of the Issues and Decision Memorandum can
be accessed directly at <a href="https://access.trade.gov/public/FRNoticesListLayout.aspx">https://access.trade.gov/public/FRNoticesListLayout.aspx</a>.
Changes Since the Preliminary Results
Based on a review of the record and comments received from
interested parties regarding our Preliminary Results, and for the
reasons explained in the Issues and Decision Memorandum, we made
certain revisions to the subsidy calculations for KG Dongbu Steel Co.,
Ltd. (KG Dongbu). As a result of the changes to KG Dongbu's final
subsidy rate, the final subsidy rate for the three non-selected
companies under review also changed.\4\
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\4\ For details on the changes made since the Preliminary
Results, see the Issues and Decision Memorandum.
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Methodology
Commerce conducted this review in accordance with section
751(a)(1)(A) of the Tariff Act of 1930, as amended (the Act). For each
of the subsidy programs found countervailable, we find that there is a
subsidy, i.e., a government-provided financial contribution that gives
rise to a benefit to the recipient, and that the subsidy is
specific.\5\ For a description of the methodology underlying all of
Commerce's
[[Page 6502]]
conclusions, see the Issues and Decision Memorandum.
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\5\ See sections 771(5)(B) and (D) of the Act regarding
financial contribution; section 771(5)(E) of the Act regarding
benefit; and section 771(5A) of the Act regarding specificity.
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Partial Rescission of Review
Commerce's practice is to rescind an administrative review of a
countervailing duty order, pursuant to 19 CFR 351.213(d)(3), when there
are no reviewable entries of subject merchandise during the POR for
which liquidation is suspended.\6\ Normally, upon completion of an
administrative review, the suspended entries are liquidated at the
countervailing duty assessment rate calculated for the review
period.\7\ Therefore, for an administrative review of a company to be
conducted, there must be a reviewable, suspended entry that Commerce
can instruct U.S. Customs and Border Protection (CBP) to liquidate at
the countervailing duty assessment rate calculated for the review
period.
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\6\ See, e.g., Lightweight Thermal Paper from the People's
Republic of China: Notice of Rescission of Countervailing Duty
Administrative Review; 2015, 82 FR 14349 (March 20, 2017); and
Circular Welded Carbon Quality Steel Pipe from the People's Republic
of China: Rescission of Countervailing Duty Administrative Review;
2017, 84 FR 14650 (April 11, 2019).
\7\ See 19 CFR 351.212(b)(2).
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In the Preliminary Results, we found the following four companies
subject to this review did not have reviewable entries during the POR
for which liquidation is suspended: (1) SeAH Steel Corporation; (2)
POSCO International; (3) POSCO Steeleon; and (4) Hyundai Steel Co.,
Ltd. Accordingly, pursuant to 19 CFR 351.213(d)(3), we stated our
intention to rescind the review with respect to these companies in the
final results.\8\ Because there is no evidence on the record that these
four companies had entries, exports, or sales of subject merchandise
during the POR, and no party filed comments with respect to our
preliminary determination regarding these companies, we are rescinding
this review with respect to these four companies consistent with 19 CFR
351.213(d)(3).
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\8\ See Preliminary Results, 88 FR at 49440.
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Companies Not Selected for Individual Review
There are three companies for which a review was requested, but
which were not selected as mandatory respondents or found to be cross-
owned with a mandatory respondent. These companies are: (1) POSCO; (2)
POSCO Coated & Color Steel Co., Ltd.; and (3) SeAH Coated Metal. For
these three companies, because the rates calculated for mandatory
respondents KG Dongbu and Hyundai Steel Company were above de minimis
and not based entirely on facts available, we applied a final subsidy
rate based on a weighted average of the rates calculated for the two
mandatory respondents using the publicly ranged sales data they
submitted on the record. This methodology for establishing the subsidy
rate for the non-selected companies is consistent with our practice and
with section 705(c)(5)(A) of the Act.
Final Results of Review
We determine that, for the period January 1, 2021, through December
31, 2021, the following total net countervailable subsidy rates exist:
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Subsidy rate (percent
Producer/exporter ad valorem)
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KG Dongbu Steel Co., Ltd....................... 6.48
Hyundai Steel Company.......................... 0.82
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Review-Specific Rate Applicable to Non-Selected Companies:
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POSCO.......................................... 1.60
POSCO Coated & Color Steel Co., Ltd............ 1.60
SeAH Coated Metal.............................. 1.60
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Disclosure
Commerce intends to disclose the calculations performed for these
final results of review within five days of the date of publication of
this notice in the Federal Register, in accordance with 19 CFR
351.224(b).
Assessment Rate
Pursuant to section 751(a)(2)(C) of the Act and 19 CFR
351.212(b)(2), Commerce has determined, and CBP shall assess,
countervailing duties on all appropriate entries of subject merchandise
in accordance with the final results of this review, for the above-
listed companies at the applicable ad valorem assessment rates listed.
Commerce intends to issue assessment instructions to CBP no earlier
than 35 days after the date of publication of the final results of this
review in the Federal Register. If a timely summons is filed at the
U.S. Court of International Trade, the assessment instructions will
direct CBP not to liquidate relevant entries until the time for parties
to file a request for a statutory injunction has expired (i.e., within
90 days of publication).
Cash Deposit Rates
In accordance with section 751(a)(1) of the Act, Commerce intends
to instruct CBP to collect cash deposits of estimated countervailing
duties in the amounts shown for each of the respective companies listed
above on shipments of the subject merchandise entered, or withdrawn
from warehouse, for consumption on or after the date of publication of
the final results of this administrative review. For all non-reviewed
firms, we will instruct CBP to continue to collect cash deposits of
estimated countervailing duties at the most recent company-specific or
all-others rate applicable to the company, as appropriate. These cash
deposits, effective upon the publication of the final results of this
review, shall remain in effect until further notice.
Administrative Protective Order
This notice also serves as a final reminder to parties subject to
an administrative protective order (APO) of their responsibility
concerning the return or destruction of proprietary information
disclosed under APO in accordance with 19 CFR 351.305(a)(3). Timely
written notification of the return/destruction of APO materials or
conversion to judicial protective order is hereby requested. Failure to
comply with the regulations and terms of an APO is a sanctionable
violation.
Notification to Interested Parties
These final results are issued and published in accordance with
sections 751(a)(1) and 777(i)(1) of the Act, and 19 CFR 351.221(b)(5).
[[Page 6503]]
Dated: January 25, 2024.
Abdelali Elouaradia,
Deputy Assistant Secretary for Enforcement and Compliance.
Appendix
List of Topics Discussed in the Issues and Decision Memorandum
I. Summary
II. Background
III. Scope of the Order
IV. Subsidies Valuation Information
V. Analysis of Programs
VI. Discussion of the Issues
Comment 1: Whether Electricity Is Subsidized by the Government
of Korea (GOK)
Comment 2: Whether the Korea Emissions Trading System (K-ETS) Is
Countervailable
Comment 3: Whether Hyundai Steel Company (Hyundai Steel) and
Hyundai Green Power (HGP) Are Cross-Owned
Comment 4: Whether KG Dongbu Steel Co., Ltd. (KG Dongbu) Is
Equityworthy and the 2015-2018 Debt-to-Equity Swaps Should Be
Countervailed
Comment 5: Whether Subsidies Prior to Dongbu Steel Co., Ltd.'s
(Dongbu Steel) Change in Ownership (CIO) Pass Through to KG Dongbu
Comment 6: Whether Commerce Incorrectly Calculated the
Uncreditworthy Benchmark Rate and Unequityworthy Discount Rate
Comment 7: Whether Commerce Used the Correct Uncreditworthy Rate
in the Benefit Calculation for the Long-Term Loan and Bond
Restructured in 2019
Comment 8: Whether Commerce Incorrectly Included Long-Term Bonds
Received From a Private Bank in its Calculation of Benefit for
Restructured Loans
VIII. Recommendation
[FR Doc. 2024-02019 Filed 1-31-24; 8:45 am]
BILLING CODE 3510-DS-P
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</html>Indexed from Federal Register on February 1, 2024.
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