(MENAFN) China South and Korea have decided to better apply the joint free trade arrangement and ease non-tariff obstacles for Korean firms conducting businesses in China, according to the latest reports.
In accordance, both neighbors also touched on the ongoing anti-dumping probe on inbound shipments of Korean-made electrical steel, bispenol A and acetone, as well as the new battery subsidy rule.
China stopped offering subsidies to nickel cobalt manganese (NCM) battery plants in China in last Jan, which are mostly owned by S. Korean companies, citing safety issues, meanwhile, it provide incentives for local producers.
China's actions were perceived as an obvious attempt to isolate their Korean rivals, including LG Chem Ltd., which has expanded production facilities to tap deeper into the fast-growing Chinese market.
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