Certain Corrosion-Resistant Steel Products From the Republic of Korea: Final Results of Countervailing Duty Administrative Review; 2023

DEPARTMENT OF COMMERCE International Trade Administration [C-580-879] Certain Corrosion-Resistant Steel Products From the Republic of Korea: Final Results of Countervailing Duty Administrative Review; 2023 AGENCY: Enforcement and Compliance, International Trade Administration, Department of Commerce. SUMMARY: The U.S. Department of Commerce (Commerce) determines that countervailable subsidies were provided to producers and exporters of Certain Corrosion-Resistant Steel Products (CORE) from the Republic of Korea (Korea). The period of review (POR) is January 1, 2023, through December 31, 2023. DATES: Applicable July 13, 2026. FOR FURTHER INFORMATION CONTACT: Shane Subler, 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) 482-6241. SUPPLEMENTARY INFORMATION: Background Commerce published the Preliminary Results of this review on January 8, 2026. 1 1   See Certain Corrosion-Resistant Steel Products From the Republic of Korea: Preliminary Results and Recission, In Part, of Countervailing Duty Administrative Review; 2023, 91 FR 689 (January 8, 2026) ( Preliminary Results ), and accompanying Preliminary Decision Memorandum (PDM). On March 24, 2026, we extended the deadline for the final results of this review by 53 days, until June 30, 2026. 2 On June 30, 2026, we extended the deadline for the final results of this review by an additional six days, until July 6, 2026. 3 For a complete description of the events that followed the Preliminary Results, see the Issues and Decision Memorandum. 4 The Issues and Decision Memorandum is a public document and is on file electronically via ACCESS. ACCESS is available to registered users at https://access.trade.gov. In addition, a complete version of the Issues and Decision Memorandum can be accessed directly at https://access.trade.gov/frnotices. 2   See Memorandum, “Extension of Deadline for Final Results of Countervailing Duty Administrative Review,” dated March 24, 2026. 3   See Memorandum, “Extension of Deadline for Final Results of Countervailing Duty Administrative Review,” dated June 30, 2026. 4   See Memorandum, “Issues and Decision Memorandum for the Final Results of the Administrative Review of the Countervailing Duty Order on Certain Corrosion-Resistant Steel Products from the Republic of Korea; 2023,” dated concurrently with, and hereby adopted by, this notice (Issues and Decision Memorandum). Scope of the Order  5 5   See Certain Corrosion-Resistant Steel Products from India, Italy, the Republic of Korea and the People's Republic of China: Countervailing Duty Orders, 81 FR 48387 (July 25, 2016) ( Order ). The product covered by the Order is CORE from Korea. For a complete description of the scope of the 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. A list of the issues raised by parties, and to which Commerce responded in the Issues and Decision Memorandum, is provided in Appendix I of this notice. Changes Since the Preliminary Results Based on our analysis of the case and rebuttal briefs and comments received from interested parties, and for the reasons explained in the Issues and Decision Memorandum, we made certain changes since the Preliminary Results. Specifically, we changed the basis of our financial contribution determination for the Provision of Korea Emissions Trading System (K-ETS) Permits program; determined that respondent KG Dongbu Steel Co., Ltd. (KG Dongbu Steel) received a countervailable benefit via debt-to-equity conversions in February 2015, May 2016, and April 2018; and incorporated a minor correction reported at verification for KG Dongbu Steel into its subsidy calculations from the Preliminary Results. 6 These changes are explained in the Issues and Decision Memorandum. 6   See Issues and Decision Memorandum at 6-7 and Comments 1 and 3. Methodology Commerce conducted this administrative review in accordance with 751(a)(1)(A) of the Tariff Act of 1930, as amended (the Act). For each of the subsidy programs found countervailable, Commerce determines that there is a subsidy, i.e., a financial contribution by an “authority” that gives rise to a benefit to the recipient, and that the subsidy is specific. 7 For a full description of the methodology underlying our conclusions, see the Issues and Decision Memorandum. 7   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. Rate for Non-Individually Examined Companies There are six 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.; (3) POSCO International; (4) POSCO Steeleon Co., Ltd.; (5) SeAH Coated Metal; and (6) SeAH Steel Corporation. For these six companies, because the rates calculated for mandatory respondents KG Dongbu Steel Co., Ltd. (KG Dongbu Steel) and Hyundai Steel Company (Hyundai Steel) 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. 8 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. 8   See Preliminary Results, 91 FR at 690; see also Memorandum, “Calculation of the Non-Selected Company Rate for the Preliminary Results,” dated January 5, 2026. Verification As provided in section 782(i) of the Act, and pursuant to 19 CFR 351.307(b)(1)(iv), in July 2025 and March 2026, we conducted verification of the information reported by Hyundai Steel and KG Dongbu Steel, respectively. We used standard verification procedures, including an examination of relevant sales and accounting records, and original source documents provided by the respondents. 9 9   See Memoranda, ” Verification of the Questionnaire Responses of Hyundai Steel Company and its cross-owned companies,” dated August 4, 2025; and “Verification of the Questionnaire Responses of KG Dongbu Steel Co., Ltd.,” dated April 15, 2026. Final Results of Review In accordance with 19 CFR 351.221(b)(5), we determine the following net subsidy rates exist for the POR, from January 1, 2023 to December 31, 2023. 10  We treated Hyundai Steel, Hyundai Steel Company, and Hyundai Steel Co., Ltd. as minor variations of the same name at respondent selection. See Memorandum, “Respondent Selection,” dated September 23, 2024, at 4 and Attachment; see also Initiation of Antidumping and Countervailing Duty Administrative Reviews, 89 FR 66035, 66047 (August 14, 2024). Further, as discussed in the Preliminary Results PDM, we found the following companies to be cross-owned with Hyundai Steel: Hyundai Green Power and Hyundai ITC. See Preliminary Results PDM at 8-9, unchanged in Issues and Decision Memorandum. 11  KG Dongbu Steel's official name in English is KG Dongbu Steel Co., Ltd. Its name in Korean is KG Steel Corporation. See Certain Corrosion-Resistant Steel Products from the Republic of Korea: Final Results and Rescission, in Part, of the Countervailing Duty Administrative Review; 2022, 90 FR 21002-21003 (May 16, 2025); see also KG Dongbu Steel's Letter, ” KG Dongbu Steel's Affiliated Companies Response,” dated October 23, 2024, at Exhibit 1.   Company Subsidy rate (percent ad valorem ) Hyundai Steel Company  10 1.28 KG Dongbu Steel Co., Ltd.; KG Steel Corporation  11 5.34 Review-Specific Rate Applicable to Non-Selected Companies: POSCO 2.88 POSCO Coated & Color Steel Co., Ltd. 2.88 POSCO International 2.88 POSCO Steeleon Co., Ltd. 2.88 SeAH Coated Metal 2.88 SeAH Steel Corporation 2.88 Disclosure Commerce intends to disclose its calculations and analysis performed in connection with these final results to interested parties within five days of its public announcement, or if there is no public announcement, within five days of the date of publication of this notice, in accordance with 19 CFR 351.224(b). Assessment Rates 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 for the POR ( i.e., January 1, 2023, to December 31, 2023). We intend 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 Requirements 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 the POR 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. 12 For all non-reviewed firms subject to the Order, we will instruct CBP to continue to collect cash deposits of estimated countervailing duties at the most recent company-specific rate or the all-others rate, as appropriate. 13 These cash deposit requirements, effective upon the publication of the final results of this review, shall remain in effect until further notice. 12   See, e.g., Honey from Argentina: Results of Countervailing Duty Administrative Review, 69 FR 29518 (May 24, 2004), and accompanying Issues and Decision Memorandum at Issue 4. 13   See Order, 81 FR at 48387. Administrative Protective Order (APO) This notice also serves as a final reminder to parties subject to an APO of their responsibility concerning the return or destruction of proprietary information disclosed under APO in accordance with 19 CFR 351.305(a)(3), which continues to govern business proprietary information in this segment of the proceeding. Timely written notification of the return or 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 We are issuing and publishing these final results in accordance with sections 751(a)(1) and 777(i)(1) of the Act, and 19 CFR 351.221(b)(4). Dated: July 6, 2026. Christian L. Bush, Deputy Assistant Secretary for Policy and Negotiations. Appendix I 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 Dongbu Steel Co., Ltd.'s (Dongbu Steel's) Debt-to-Equity Conversions Conferred a Benefit Comment 2: Whether Commerce Used the Correct Benchmark Interest Rate for the Korea Export-Import Bank (KEXIM) Export Growth Loan Program Comment 3: Whether the Provision of Korean Allowance United (KAUs) Under the Korea Emissions Trading System (K-ETS) Constitutes a Financial Contribution Comment 4: Whether the Provision of KAUs Confers a Countervailable Benefit Comment 5: Whether the K-ETS Program is Specific Comment 6: Whether the Government of Korea's (GOK's) Provision of Electricity Was Consistent with Market Principles During the POR Comment 7: Whether to Modify the Benefit Calculation for Provision of Electricity for Less Than Adequate Remuneration (LTAR) Program Comment 8: Whether the Provision of Electricity for LTAR Program is Specific VII. Recommendation [FR Doc. 2026-14026 Filed 7-10-26; 8:45 am] BILLING CODE 3510-DS-P