Jul 19, 2010. /Lesprom Network/. South Korea has imposed preliminary antidumping duties on Malaysian plywood that damages the domestic industry, as Bernama reported. The Korea Trade Commission (KTC) said it has decided to slap punitive duties of 5.11-33.81% on imports from the Southeast Asian country until a formal ruling is made. It said that investigations carried out since late February revealed that the plywood was causing damage to local companies. The umbrella Korea Wood Panel Association representing five local companies complained that Malaysian rival companies had sold products at unfairly low prices that hurt sales, profits and market share. Plywood is most commonly used in construction sites as molds or casts for cement. It is also used to make furniture and floors in homes. The local market stood at 700 billion won ($584.4 million) as of 2009. The KTC, under the Ministry of Knowledge Economy, said it will make a formal ruling within the next five months.