[Federal Register Volume 89, Number 42 (Friday, March 1, 2024)]
[Notices]
[Pages 15124-15125]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-04294]


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DEPARTMENT OF COMMERCE

International Trade Administration

[C-580-882]


Certain Cold-Rolled Steel Flat Products From the Republic of 
Korea: Final Results and Partial Rescission of Countervailing Duty 
Administrative Review; 2021

AGENCY: Enforcement and Compliance, International Trade Administration, 
Department of Commerce.

SUMMARY: The U.S. Department of Commerce (Commerce) determines that 
Hyundai Steel Co., Ltd. (Hyundai Steel) and POSCO/POSCO International 
Corporation (collectively POSCO), producers/exporters of certain cold-
rolled steel flat products (cold-rolled steel) from the Republic of 
Korea (Korea), received countervailable subsidies during the period of 
review (POR) January 1, 2021, through December 31, 2021.

DATES: Applicable March 1, 2024.

FOR FURTHER INFORMATION CONTACT: Sam Evans or Benito Ballesteros, AD/
CVD Operations, Office IX, Enforcement and Compliance, International 
Trade Administration, U.S. Department of Commerce, 1401 Constitution 
Avenue NW, Washington, DC 20230; telephone: (202) 482-2420 and (202) 
705-7455, respectively.

SUPPLEMENTARY INFORMATION:

Background

    On October 5, 2023, Commerce published the Preliminary Results of 
this administrative review in the Federal Register and invited 
interested parties to comment.\1\ On January 12, 2024, Commerce 
extended the deadline for issuing the final results until February 23, 
2024.\2\
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    \1\ See Certain Cold-Rolled Steel Flat Products from the 
Republic of Korea: Preliminary Results of Countervailing Duty 
Administrative Review, Partial Rescission, and Preliminary Intent to 
Rescind, in Part: 2021, 88 FR 69136 (October 5, 2023) (Preliminary 
Results), and accompanying Preliminary Decision Memorandum (PDM).
    \2\ See Memorandum, ``Extension of Deadline for Final Results of 
2021 Countervailing Duty Administrative Review,'' dated January 12, 
2024.
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    For a complete description of the events that occurred since the 
Preliminary Results, see the Issues and Decision Memorandum.\3\
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    \3\ See Memorandum, ``Decision Memorandum for the Final Results 
and Partial Rescission of the Countervailing Duty Administrative 
Review; 2021: Certain Cold-Rolled Steel Flat Products from the 
Republic of Korea,'' dated concurrently with, and hereby adopted by, 
this notice (Issues and Decision Memorandum).
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Scope of the Order 4
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    \4\ See Certain Cold-Rolled Steel Flat Products from Brazil, 
India, and the Republic of Korea: Amended Final Affirmative 
Countervailing Duty Determination and Countervailing Duty Order (the 
Republic of Korea) and Countervailing Duty Orders (Brazil and 
India), 81 FR 64436 (September 20, 2016) (Order).
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    The merchandise covered by this Order is cold-rolled steel.\5\
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    \5\ For a complete description of the scope of the Order, see 
Preliminary Results PDM.
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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 addressed 
is attached as an appendix to this notice. The Issues and Decision 
Memorandum is a public document and is on file electronically via 
Enforcement and Compliance's Antidumping and Countervailing Duty 
Centralized Electronic Service System (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/public/FRNoticesListLayout.aspx.

Rescission of Administrative Review, In Part

    As noted in the Preliminary Results,\6\ based on our analysis of 
U.S. Customs and Border Protection (CBP) data, we determine that two 
companies, Hyundai Group and POSCO C&C Co., Ltd. had no reviewable 
shipments, sales, or entries of subject merchandise during the POR. We 
received no comments or additional information from any interested 
parties regarding these two companies. Therefore, absent evidence of 
shipments on the record, we are rescinding the administrative review of 
these companies, pursuant to 19 CFR 351.213(d)(3).
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    \6\ Id., 88 FR at 88137.
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Changes Since the Preliminary Results

    Based comments received from interested parties, we made certain 
changes to Hyundai Steel's and POSCO's countervailable subsidy rate 
calculations from the Preliminary Results.\7\
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    \7\ For a full description of these revisions, see the Issues 
and Decision Memorandum.
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Methodology

    Commerce conducted this review in accordance with section 
751(a)(1)(A) of the Tariff Act of 1930, as amended (the Act). For each 
of the subsidy programs found countervailable, we find that there is a 
subsidy, i.e., a government-provided financial contribution that gives 
rise to a benefit to the recipient, and that the subsidy is 
specific.\8\ For a full description of the methodologies underlying all 
of Commerce's conclusions, see the Issues and Decision Memorandum.
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    \8\ 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.
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Final Results of Administrative Review

    We determine that, for the period January 1, 2021, through December 
31, 2021, the following total net countervailable subsidy rates exist:

[[Page 15125]]



------------------------------------------------------------------------
                                                           Subsidy rate
                    Producer/exporter                       (percent ad
                                                             valorem)
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Hyundai Steel Company \9\...............................            0.76
POSCO/POSCO International Corporation \10\..............            0.86
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Disclosure

    Commerce intends to disclose the calculations performed for these 
final results of review within five days of the date of publication of 
this notice in the Federal Register, in accordance with 19 CFR 
351.224(b).
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    \9\ As discussed in the Preliminary Results PDM, Commerce has 
found the following company to be cross-owned with Hyundai Steel 
Company: Hyundai ITC and Hyundai Green Power Co. Ltd. Hyundai Steel 
Company is also known as Hyundai Steel Co., Ltd.
    \10\ As discussed in the Preliminary Results PDM, Commerce has 
found the following companies to be cross-owned with POSCO: Pohang 
Scrap Recycling Distribution Center Co. Ltd.; POSCO Chemical; POSCO 
M-Tech; POSCO Nippon Steel RHF Joint Venture Co., Ltd.; POSCO 
Terminal, and POSCO Steel Processing and Service. In the Preliminary 
Results, POSCO Steel Processing and Service was omitted from the 
list of companies that are cross-owned with POSCO.
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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. 
Commerce intends 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 Rates

    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 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. For all non-reviewed firms, we will 
instruct CBP to continue to collect cash deposits of estimated 
countervailing duties at the all-others rate or most recent company-
specific rate applicable to the company, as appropriate. These cash 
deposits, when imposed, shall remain in effect until further notice.

Administrative Protective Order

    This notice also serves as a final reminder to parties subject to 
administrative protective order (APO) of their responsibility 
concerning the return or destruction of proprietary information 
disclosed under APO in accordance with 19 CFR 351.305(a)(3). Timely 
written notification of the return/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

    These final results are issued and published in accordance with 
sections 751(a)(1) and 777(i)(1) of the Act, and 19 CFR 351.221(b)(5).

    Dated: February 23, 2024.
Ryan Majerus,
Deputy Assistant Secretary for Policy and Negotiations, performing the 
non-exclusive functions and duties of the Assistant Secretary for 
Enforcement and Compliance.

Appendix I

List of Topics Discussed in the Issues and Decision Memorandum

I. Summary
II. Background
III. Subsidies Valuation
IV. Analysis of Programs
V. Discussion of the Issues
    Comment 1: The Countervailability of the Korea Emissions Trading 
System (K-ETS) Program
    Comment 2: Whether to Modify the K-ETS Benchmark and Benefit 
Calculations
    Comment 3: Whether the Government of Korea's (GOK's) Provision 
of Electricity was Consistent with Market Principles During the POR
    Comment 4: Whether the Electricity for Less-Than-Adequate-
Remuneration (LTAR) Program is Specific
    Comment 5: Whether to Modify the Benefit Calculation for the 
Electricity for LTAR Program
    Comment 6: Whether the Benchmark Calculations for Electricity 
for More Than Adequate Remuneration (MTAR) Should Differentiate for 
Time-of-Use
    Comment 7: Whether Certain Industrial Technology Innovation 
Promotion Act (ITIPA) Grants Received by POSCO SPS and POSCO 
Chemical are Tied to Non-Subject Merchandise
    Comment 8: Whether Certain of POSCO Chemical's Local Tax 
Exemptions under the Restriction of Special Location Taxation Act 
(RSLTA) Article 78 are Tied to Non-Subject Merchandise
    Comment 9: Whether Certain Quota Tariff Import Duty Exemptions 
under Article 71 of the Customs Act are Tied to Non-Subject 
Merchandise for POSCO
    Comment 10: Whether Hyundai Steel is Cross-Owned With Hyundai 
Green Power (HGP)
VI. Recommendation

[FR Doc. 2024-04294 Filed 2-29-24; 8:45 am]
BILLING CODE 3510-DS-P