Since Korea joined GATT in 1967, it successfully pursued strong export-oriented economic policies until the late 1970's. During this period, Korea maintained an unprecedentedly high economic growth rate under high tariffs and various non-tariff protective measures allowed to it because of its status as a developing country suffering from a large trade deficit.
The ultimate goal of the anti-dumping system is to correct unfair foreign trade practices and relieve the domestic industry's injury in cases where material injury or a threat of material injury is posed by foreign dumping practices. It is, however, noteworthy that the system is strictly restrained in its use under provisions approved by GATT, and, hence, the misuse of the system will certainly result in disputes with trading partners. In this regard, it is extremely important for all the countries to guarantee four basic requirements of the system-transparency, fairness, efficiency, and specialty-in enforcing the national anti-dumping practices.
This paper reviews the whole history of Korea's anti-dumping system and practices and suggests some lessons on Anti-dumping Regulations of GATT and Advanced Countries.

Contents

I. Recent Economic Environments in Korea

II. Brief History of Korea's Anti-dumping Practices

III. Characteristics of Anti-dumping Related Industries

IV. Korea's Anti-dumping System

V. Some Notes on Anti-dumping Regulations of GATT and Advanced Countries

VI. Further Considerations for a Desirable Anti-dumping System

VII. Concluding Remarks

References