DRAM dump windfall for Hyundai
$110 million richer
Posted in Business, 14th October 2000 08:56 GMT
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Hyundai could be richer to the tune of $110 million following the US Department of Commerce's decision last week to rescind DRAM anti-dumping tariffs imposed upon the firm. Why? It's because the US authority has decided to backdate the decision to January this year.
And that means Hyundai trousers $60 million it had lodged with the US government since January to pay for anti-dumping tariffs. Hyundai will receive its refund (with interest?) within two to four weeks.
The company expects it will in due course get back another $50 million deposited with the US government, on completion of all investigations into DRAM dumping charges into the South Korean firm. ®
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