An American Company Under Siege in South Korea

American Greatness: We are all familiar with China’s predatory trade practices: intellectual property theft, subsidized exports, state-owned businesses masquerading as private enterprise, and counterfeit products just to name a few.

Beijing’s abuses are so numerous and so long-standing we pretty much expect them to cheat. If you’re China, “It’s what you do,” as the ad says.

But it’s worse when our allies use the same playbook to steal American technology and drive American companies into bankruptcy.

And that’s exactly what’s happening in South Korea right now.

In the 1960s, the South Korean government created POSCO (formerly known as Pohang Iron and Steel Company) and lavished it with grants, loans, and other subsidies.

These special favors, not available in a free-market system, helped POSCO grow into a sprawling conglomerate and the world’s largest steel manufacturer.

But the company doesn’t play by the same rules as American companies.

The Commerce Department found POSCO guilty of dumping steel into the United States at prices far below the cost of production—a tactic China uses regularly.

And dumping is not the only underhanded tactic POSCO has borrowed from China. read more

h/t Forcibly Rearranged.

10 Comments on An American Company Under Siege in South Korea

  1. Time for us to smack KIA,Hyundai,Daewoo and others with big tariffs to let the South Koreans have a taste of tit for tat.

    10
  2. The Japanese started the product theft. The Japanese have a 500 year plan to defeat the US economically. And the steal our shit like it’s free. They taught the Koreans and The Chinese don’t even care if we know about it. All of them killing our businesses. That’s why advocate for Isolationism. We don’t need these bastards. They are no market. If we brought back our drug manufacturing, who will the rest of the world buy from.There’s many more commodities that fit in the same category. Bring all of our shit back, protect our businesses and businessmen,cut EVERYONE ELSE OFF. Including pull the plug on the WWW and replace it with the UWW.

    13
  3. Place export tariffs on the drugs as well. We pay a fortune because the other countries don’t pay for the R&D. It’s all borne by the American consumer. Canada’s prices are way cheaper than ours. It’s because they won’t pay for the research. Screw ’em. (Sorry Kcir).

    7
  4. Cynic

    I read your efforts with the Autoclave and the Dehydrator but lost the thread to reply on. That’s so awesome and why you can’t keep the American Business Man down. We’re to full of, “Shit, I think we can do that” and a heapying dose of Fuck You.
    Way to go pal, I’m impressed. Let us know how the dehydrators work out.

    5
  5. Since 99% of Hollywood is a buncha c*ck sucking commies, and commies advocate “From those according to their ability to those according to their need” I don’t care who pirates anything from Hollywood. I don’t go to movies or watch TV. Effum.

    1
  6. It’s not longer the Chi-Comms we have to care about – it’s the traitors in our country they bought-off: every hack ‘reporter’, every politician, every hollywood idiot, every hack ‘professor’ of bullshit course in colleges, etc.

    There’s no going back on this one. These people are forever stained, and can never again be in positions of trust.

    3

Comments are closed.

Do NOT follow this link or you will be banned from the site!