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Image header Agence Europe
Europe Daily Bulletin No. 8591
Contents Publication in full By article 20 / 45
GENERAL NEWS / (eu) eu/wto/korea

Seoul asks for arbitrage on European and American measures on Drams

Brussels, 24/11/2003 (Agence Europe) - After its failed bilateral consultations, South Korea has asked for World Trade Organisation arbitration at the beginning of December, in the dispute on European (and American) anti-subsidy measures on the importation of Drams semi-conductors (dynamic random access memory) produced by the firm Hynix. "We will ask the Settlement Body to establish a panel as soon as possible", said an official source on Sunday. Seoul contends that payments to the country's only producer, in the form of bank loans, were fully legal and free from any government influence, saying that the compensatory duties had a substantial negative impact on its exports. It is worth noting that Drams, exports of which are worth nearly 6 million dollars, are South Korea's biggest selling products on the international market.

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