interested partiesmeans parties affected by the imports of the product in question;
productsmeans goods originating in the Union or Korea.
serious injurymeans a significant overall impairment in the position of Union producers;
threat of serious injurymeans serious injury that is clearly imminent.
transition periodmeans, for a product, the period from the date of application of the Agreement, as provided for in Article 15.10 thereof, until 10 years from the date of completion of tariff elimination or reduction, as the case may be for each product.
Union industrymeans the Union producers as a whole of the like or directly competitive products, operating within the territory of the Union, or those Union producers whose collective output of the like or directly competitive products constitutes a major proportion of the total Union production of those products.