The US and EU’s antidumping and countervailing duty (CVD) measures may induce an increase in the resale unit price of imported Korean products, and if ultimately subjected to anti-dumping laws, Korea’s export sales and the supply of Korean products to these countries may greatly decrease. While the US and EU anti-dumping laws and CVDs would decrease Korean exports in this case, similar enterprises in other countries would benefit from said anti-dumping measures and increase production in order to expand their market share.Therefore, there is sufficient reason to expect that the decreased market share of Korean products would mostly be taken over by products from competing countries. Korean export companies would inevitably face decreased exports and market share in the short term as market demand in the EU or US switches over to imported products from competitor countries, as a result of anti-dumping policies. At the same time, there can be volatility in revenue depending on the cost and price competitiveness of Korean exports that are competing with EU or US domestic products as well as products from competing countries, affecting the business profits of Korean businesses. Depending on the labor standards and capital concentration in the product or area in question and the Korean companies’ reinvestment capacity, there will also be detrimental effects on employment, investment in plants and equipment, and research and development. It is clear that, in the short term, Korean manufacturing industries would be negatively affected unless a new export market is quickly found. According to previous research, the management index shows that a significant portion of domestic production industries suffered considerably after the establishment of anti-dumping tariffs, although there were slight variations.Therefore, there is a great need to thoroughly prepare for the consequences of the increasingly strict trade remedies being implemented by partner trade countries. In light of this, it is imperative that more research should be conducted on a comprehensive review and systematic modification of domestic trade remedies to expand and facilitate trade with the US, the EU, and other first world markets. From this perspective, the following would be of considerable help to related departments and officials: examinations of the current operation and effects of the US and EU’s trade remedy system, examples of how these trade remedies have been used against Korea, problem areas by ascertaining areas that need improvement, and policy suggestions would be of considerable help to related departments and officials. Additionally, as FTAs with first world markets and the subsequent opening of the domestic market would exert a considerable ripple effect on the domestic economy, the review and policy suggestions included in this article provide an important reference for advancing the trade remedy system
