S. Korea to not control excavator market
SEOUL, July 29 (Yonhap) -- South Korea has decided not to control the local excavator rental market in consideration of international trade rules, a related government ministry said Friday.
The Ministry of Land, Infrastructure and Transport is empowered to limit the registration of new heavy construction equipment for commercial use in order to stabilize the rental market.
Currently, the dump truck, mixer truck and concrete pump truck industries are subject to regulations.
In a relevant committee meeting, the ministry decided not to include excavators in the list.
It respected the opinions of the Trade Ministry and the Korea Research Institute for Human Settlements that intervention may breach international trade rules.
Excavator rental firms here have demanded government control of the market, saying excavators are oversupplied in the nation, while manufacturers and retailers are opposed to it.
lcd@yna.co.kr
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