South Korea's trade commission said Thursday it has decided to impose anti-dumping duties on steel wire from China, saying the cheap imports hurt the domestic industry. The Korea Trade Commission said it will make a recommendation to the finance ministry the levying of 8.6 percent duties on galvanized low carbon steel wire imported from China for the next five years. Galvanized steel wire is an intermediate product used to make corrosion resistant wire products, including chain link fence, vineyard wire, baling wire and bale ties. South Korea's galvanized steel wire market was valued at about 100 billion won (US$ 92.7 million) as of 2016, with Chinese products accounting for 70 percent of the market, according to the commission. "The trade commission concluded that the Chinese products imported below the fair market value have caused substantial damage to the domestic industry, especially small and medium-sized companies," the commission said in a release. The commission, under the trade ministry, also agreed to extend the 12.6-21.8 percent anti-dumping duties slapped on ethanolamine from the United States, Malaysia, Thailand and Japan for another five years. Ethanolamine is used as feedstock in the production of detergents, emulsifiers, polishes, pharmaceuticals, corrosion inhibitors and chemical intermediates. The domestic market for the chemical ingredient was worth $40 billion won in 2016, with imports from the four countries making up about 30 percent of that, the commission said. The finance ministry will confirm the duties on steel wire by July 31 and on ethanolamine by Sept. 3, it noted.